which asset never depericate in value

What is the method would use to determine fair value?

According to our authors, what is an unrealized gain and unrealized loss?

“Some asset valuations using historical costs are highly relevant and very representationally faithful, whereas others may be representationally faithful but lack relevance. Some asset valuations based on fair values are highly relevant and very representationally faithful, whereas others may be relevant but lack representational faithfulness.” Explain and provide examples of each.

Explain how the fair value method is an improvement over the intrinsic value method.

Hh2. Account  Kamp, Inc., sells specialized bicycle shoes. At year-end, due to a sudden increase in manufacturing costs, the replacement cost per pair of shoes is $55. The original cost is $43, and the current selling price is $50. The normal profit margin is 10% of the selling price, and the selling costs are $3 per pair. Using the lower of cost or market method under U.S. GAAP, which of the following amounts should each pair of shoes be reported on Kamp's year-end balance sheet?