| 单词 | lower of cost or market |
| 释义 | lower of cost or market = LCM A method of valuing a current asset of an organization in which the value taken is either its purchase (or production) price or the cost of replacing it (by purchase or manufacture), whichever is the lower. The Companies Act 1985 requires that a current asset be valued at either its purchase (or production) price or its net realizable value, whichever is the lower. |
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