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Under a purchase contract signed by Company A in October of the current year, Company A will take delivery of inventory with a value of
Under a purchase contract signed by Company A in October of the current year, Company A will take delivery of inventory with a value of $56,000 scheduled for delivery on April 30 of the following year. By December 31 of the current year the fair value of the inventory has declined to $50,000. How will Company A record this in its records on December 31?
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Company A should record the decline in the fair value of the inventory as ...
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Accounting
Authors: Carl warren, James Reeve, Jonathen Duchac, Sheila Elworthy,
Volume 1, 2nd canadian Edition
176509739, 978-0176509736, 978-0176509743
