13. Which is not acceptable for valuation of inventory? a. historical cost c. prime cost d. estimated selling price less cost of disposal b. current replacement cost

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.