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Oriole manufactures high - end whole - home electronic systems. The company provides a one - year warranty for all products sold. The company estimates
Oriole manufactures highend wholehome electronic systems. The company provides a oneyear warranty for all products sold. The company estimates that the warranty cost averages $ per unit sold and reported a liability for estimated warranty costs of $ million at the beginning of the current year. If during the current year, the company sold units for a total of $ million and paid warranty claims of $ on current and prior year sales, what amount of liability would the company report on its balance sheet at the end of the current year?
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