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If a material amount of inventory has been ordered at the balance sheet date through a formal purchase contract for future delivery at firm prices,
If a material amount of inventory has been ordered at the balance sheet date through a formal purchase contract for future delivery at firm prices, O A. disclosure is required only if prices have declined since the date of the order OB. disclosure is required only if prices have since risen substantially OC. this fact must be disclosed D. an appropriation of retained earnings is necessary
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