E4-3 Here are some accounting reporting situations a) East Lake Company recognizes revenue at the end of the production cycle but before (b) Hilo Company is in its fifth year of operation and has yet to issue financial statements. (c) Gomez, Inc. is carrying inventory at its original cost of $100,000. Inventory has a fair sale. The price of the product, as well as the amount that can be sold, is not certain. (Do not use the full disclosure principle.) value of $110,000