Lower of Cost or Market

Definition:

Valuing assets for financial reporting purposes. Ordinarily, "cost" is the purchase price of the asset and "market" refers to its current replacement cost. Generally Accepted Accounting Principles (GAAP) requires that certain assets (e.g., inventories) be carried at the lower of cost or market.

Related terms:

Plan

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Term: Accounting -> Lower of Cost or Market

Lower of Cost or Market

Valuing assets for financial reporting purposes. Ordinarily, "cost" is the purchase price of the asset and "market" refers to its current replacement cost. Generally Accepted Accounting Principles (GAAP) requires that certain assets (e.g., inventories) be carried at the lower of cost or market.

Budget Review

Plan

Consider all of the expenses by buying a car that will be generated by their purchase

Calculate monthly mortgage payments quickly and easily. Displays an Amortization Table.

This calculator is designed to help you estimate your return on investment from a marketing campaign

Browse by categories

Terms

Accounting