Question
intermediate accounting Due to the ongoing Dos Equis Virus pandemic, the sale price of their N95 masks went up. 3MMMs company executives decided to mark
intermediate accounting
Due to the ongoing Dos Equis Virus pandemic, the sale price of their N95 masks went up. 3MMMs company executives decided to mark up their inventory of N95 masks to reflect the increased value of their inventory. Are they acting in accordance of US GAAP? Why or why not?
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Financial & Managerial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
13th edition
9781133607618, 978-1285868776
