Is the reason to account for merchandise inventory at ▼ average cost fifo cost lifo cost the lower of cost or market . ▼ conservatism consistency disclosure materiality directs accountants to decr

Is the reason to account for merchandise inventory at ▼ average cost fifo cost lifo cost the lower of cost or market . ▼ conservatism consistency disclosure materiality directs accountants to decrease the accounting value of an asset if it appears unrealistically high?