Dan Bailey claims that the inventory as of January 31 is worth $6,000, as shown by the
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Dan Bailey claims that the inventory as of January 31 is worth $6,000, as shown by the fact that inventory costing $2,000 was actually sold for $6,000. Would you change the balance sheet?
[Yes / No]. This is an illustration of the -
concept. Nonmonetary assets are reported at their rather than their worth or .
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