Talk:Lower of cost or market

Wiki Education Foundation-supported course assignment
This article is or was the subject of a Wiki Education Foundation-supported course assignment. Further details are available on the course page. Student editor(s): Drew Strotman, Achd6.

Above undated message substituted from Template:Dashboard.wikiedu.org assignment by PrimeBOT (talk) 02:55, 17 January 2022 (UTC)

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Lower of Cost or Market? Then what is the number report on the balance sheet for inventory? The cost number or the market? If the market lower than the cost, are we going to credit on the "Inventory" Account? Then which account records on the debit side? James.chang (talk) 13:02, 10 December 2010 (UTC)

The article cites only one source: "FASB Accounting Standards Update, No. 2015-11, July 2015, p. 1" Instead of including a citation after every new fact or quote, the article includes the citation at the very end because there is one source. The article could be improved by adding information from accounting publications, such as CPA Journal.

The article is only two paragraphs long and includes one main section about the topic, as well as "See also" and "References" sections. This article could be expanded by creating new sections. For example, one section could describe the problems associated with lower of cost or market. The article does not clearly explain why FASB changed the term "lower of cost or market" to "lower of cost and net realizable value." How does this update make it easier to measure inventory? The article could also explain the difference between market and net realizable value.--Achd6 (talk) 07:43, 21 October 2016 (UTC)

It is unclear where the information is coming from. With the exception of reference to the FASB standards update, the other information lacks reference to any source. Article may be over representing the concept of lower of cost and net realizable value. Seems to distract focus from the subject of the article.Drew Strotman (talk) 22:41, 24 October 2016 (UTC)