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lower of cost or market

   Also found in: Acronyms, Wikipedia 0.01 sec.
lower of cost or market
A method for determining an asset's value such that either the original cost or the current replacement cost, whichever is lowest, is used for financial reporting purposes. For example, an inventory item originally purchased for $50 that has a current market value of $30 would appear on the firm's balance sheet at $30. The use of lower of cost or market is considered a conservative method of valuing assets.


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? Mentioned in ? References in periodicals archive
 
The administration has recommended the repeal of the lower of cost or market (
Thus, a retailer using the cost or lower of cost or market valuation method for both tax and financial statement reporting purposes was disinclined to request to change to the retail method for tax purposes because the retailer did not want to use the retail method for financial statement reporting purposes.
A significant decline in the market price of ruthenium has occurred and is expected to lead to a lower of cost or market inventory charge in the quarter.
 
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