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Regarding Statement of Financial Accounting Standards No. 151 Inventory costs an amendment of ARB No. 43, Chapter 4 provide the following: -a general description of

Regarding Statement of Financial Accounting Standards No. 151 Inventory costs an amendment of ARB No. 43, Chapter 4 provide the following:

  1. -a general description of FASB final decision to the issue and the rationale behind the final decision.
  2. -Discuss in what ways the final decision complies with the Conceptual Framework and/or in what ways it doesnt.
  3. -Your view and comments on whether the standard setters solution was a good solution

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