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Basic Question 5 of 26
The reporting of inventory values at the lower of cost or market reflects the accounting principle or convention of ______.
B. materiality
C. conservatism
A. cost principle
B. materiality
C. conservatism
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Learning Outcome Statements
describe the measurement of inventory at the lower of cost and net realisable value and its implications for financial statements and ratios
CFA® 2025 Level I Curriculum, Volume 2, Module 6.