Question
QUESTION 6 The Garrison Company now has $12,000 of obsolete inventory in stock. This inventory could be sold for $5,000, or modified for $6,000 and
QUESTION 6 The Garrison Company now has $12,000 of obsolete inventory in stock. This inventory could be sold for $5,000, or modified for $6,000 and sold for $15,000. The change in the company's net income resulting from modifying the inventory and then selling it as opposed to selling it as is would be:
Note: I got 4000 as an answer but was marked wrong
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby
4th edition
978-0073369709, 73369705, 78025370, 978-0077444846, 77444841, 978-0078025372
