An inventory loss from market decline of $1890000 occurred in May 2018, after its March 31, 2018
Fantastic news! We've Found the answer you've been seeking!
Question:
An inventory loss from market decline of $1890000 occurred in May 2018, after its March 31, 2018 quarterly report was issued. None of this loss was recovered by the end of the year. How should this loss be reflected in the company's quarterly income statements?
Three Months Ended
3/31/18
6/30/18
9/30/18
12/31/18
$-0-$630000$630000$630000
$-0-$1890000$-0-$-0-
$472500
$472500$472500$472500
$-0-$-0-$-0-$1890000
Posted Date: