Lower of Cost or Market
Filed Under: Business
1 definition found for this term.
Definitions are presented in the order source books were published (most recent first).
Financial Skills for Professionals$65.00 – $104.00
A method of valuing items of inventory, temporary investments, or other current assets, under which losses inherent in declines of the market prices of items held below their costs are recognized in the period in which such declines become apparent.