If the stand alone selling price of a good or service is not readily observable, what approaches might a company use to obtain an estimate of the stand alone selling price?
Answer to relevant QuestionsWhat evidence would suggest that a performance obligation is satisfied and that the customer has control of the good or service? If a seller enters into more than one contract with a specific customer, when should the contracts be combined and treated as a single contract? CoolShoes sells its elite tennis shoes to sports retailers throughout the country. When introducing its new RF17 shoes that sell for $ 125 per pair, the company includes a $ 15 rebate form. The rebate form can be used when ...LongDrive sells a specialized golf club that has core plugs to shift weight in the club head and produce different ball flights. LongDrive sells the golf club and replacement core plugs separately, and no other company sells ...On March 1, 2017, Elkhart enters into a new contract to build a specialized warehouse for $ 7 million. The promise to transfer the warehouse is determined to be a performance obligation. The contract states that if the ...
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