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ABC Company is holding goods with a selling price of $ 120000 which cost them $ 70000. On December 3, 2019, ABC sold the goods
ABC Company is holding goods with a selling price of $ 120000 which cost them $ 70000. On December 3, 2019, ABC sold the goods to Timmons under a bill- and - hold arrangement. At the end of 2019 ABC still holds the goods. Assume ABC meets the four conditions necessary under a bill- sand - hold arrangement to claim it has transferred control to the buyer.
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Financial Reporting and Analysis
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon
6th edition
9780077632182, 78025672, 77632184, 978-0078025679
