A company that manufactures and sells a product excludes depreciation expense from the computation of cost of

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A company that manufactures and sells a product excludes depreciation expense from the computation of cost of goods sold. The company computes the gross margin by subtracting this cost-of-goods-sold number from sales. Is this a violation of current GAAP?

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Advanced Accounting

ISBN: 12

5th Edition

Authors: Debra C Jeter, Paul K Chaney

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