Inventory is initially recorded at cost. Inventory is carried on a company's books at whichever cost is lower: market or original purchase cost. Inventory can subsequently be written down to the market cost if the market value is less than the inventory's current carrying value. There are four different methods to adjust inventory; FIFO, LIFO, Average and Specific Identification. Although all four methods are described below, only the first three are supported in Aptify:
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