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Gummy Ltd (Gummy) manufactures and sells woodfires. It sells its woodfires to four markets: Market A, Market B, Market C, and Market D. Gummy has
Gummy Ltd (Gummy) manufactures and sells woodfires. It sells its woodfires to four markets: Market A, Market B, Market C, and Market D. Gummy has access to all four markets. The following information is relevant for fair value measurement: Which of the following statement about the fair value of the woodfires (per unit) is correct in accordance with the requirements of AASB 13 Fair Value Measurement? The principal market is Market B and fair value of the woodfires is $6,000. The principal market is Market C and fair value of the woodfires is $5,850. The most advantageous market is Market A and fair value of the woodfires is $6,900. The principal market is Market D and fair value of the woodfires is $6,200
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