Business, 03.12.2019 23:31 sarahfsakrani

Smith company has several current product lines. in the past, the company applied the lower of cost and net realizable value method to individual inventory items. the company wants to make the process less time consuming and is exploring alternatives. what alternatives does the company have?
a. smith could choose not to apply the lower of cost and net realizable value rule and report inventory at historical cost
b. smith could apply the lower of cost and net realizable value rule to each product line
c. smith could apply the lower of cost and net realizable rule to its entire inventory

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