【单选题】Which of the following represents the best justification for the departure from the historical cost principle that results when lower-of-cost-or-net realizable is used?
A.
It is easier to keep track of market value than it is to keep track of cost as market value is available from any supplier.
B.
Cost loses its relevance for the determination of cost of goods sold if the cost of inventory has been incurred in an earlier accounting period.
C.
The balance sheet valuation of inventory is the most important consideration in the preparation of financial statements.
D.
The loss in utility (revenue-producing ability) that results from a decline in the market value of inventory should be charged against revenues in the period in which it occurs.