Question

In farming, inventory valuation is
Options
O not based on cost/market price whichever is
less
O based on cost/ market price which ever is
higher
O based on cost/market price whichever is
moderate
based on increasing cost of market price​

Answer 1

Answer:

Inventory Valuation Methods Farm inventory can be valued under methods available to other businesses (cost, lower of cost or market, etc.). Farmers also have two additional methods unique to farming. The method used must conform to generally accepted accounting principles for similar businesses and must clearly reflect income.

Explanation: