Business, 26.11.2021 23:30, danteyoungblood7

When applying the lower cost or market rule to the valuation of inventory, the allowance method is considered preferable to the direct method because A. the allowance method reports a higher inventory net valuation for balance sheet purposes than the direct method
B. the allowance method reports the inventory loss or loss recover in a separate income statement account
C. the allowance method, unlike the direct method, reduces the value of inventory reported on the balance sheet
D. the allowance method reports smaller losses than the direct method

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When applying the lower cost or market rule to the valuation of inventory, the allowance method is c...