LaTour Inc. is based in France and prepares its financial statements in accordance with IFRS. In 2015,
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LaTour Inc. is based in France and prepares its financial statements in accordance with IFRS. In 2015, it reported cost of goods sold of €578 million and average inventory of €154 million. Briefly discuss how analysis of LaTour’s inventory turnover (and comparisons to a company using U.S. GAAP) might be affected by differences in inventory accounting between IFRS and U.S. GAAP.
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Related Book For
Intermediate Accounting IFRS Edition
ISBN: 9781118443965
2nd Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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