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017-3 Stand-Alone Selling Price LO 17.4. Luke's Gameday Company sells a package of goods and services to its customers. The package includes four FCS Championship
017-3 Stand-Alone Selling Price LO 17.4. Luke's Gameday Company sells a package of goods and services to its customers. The package includes four FCS Championship football tickets, a reserved parking space, a pregame party, and four pregame sideline passes. The package sells for $18,000. Because the stand-alone selling for the pregame party and sideline passes is not obsery- able, Luke's Gameday Company is interested in determining how to allocate the transaction price to each underlying performance obligation, Required: Discuss what methods are available for estimating a stand-alone selling price for a good or service when the stand-alone selling price is not directly observable. Which method is preferred
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