Inventory valuation
AccountingRecording stock at the lower of cost and realisable value.
In plain terms
Sounds precise, is a judgement. Old stock sits at full cost until someone writes it down.
1492 terms
Glossary
Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
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