单选题 According to the Financial Accounting Standards Board, what is the appropriate measurement basis for equipment used in the manufacturing process and inventory that is held for sale? Equipment Inventory ①A. Historical cost Historical cost ②B. Fair value Lower of cost or market ③C. Historical cost Lower of cost or market

A、

A. ①
B、

B. ②
C、

C.③

【正确答案】 C

【答案解析】Equipment is reported in the balance sheet at historical cost less accumulated depreciation. Inventory is reported in the balance sheet at the lower of cost or market.