Question: If your school has a subscription to the FASB Codification, go to http://aaahq.org/ascLogin.cfm to log in and prepare responses to the following (a) Access the

If your school has a subscription to the FASB Codification, go to http://aaahq.org/ascLogin.cfm to log in and prepare responses to the following

  (a) Access the glossary (“Master Glossary”) to answer the following.

(1) What is the definition provided for inventory?
(2) What is a customer?

  (b) What guidance does the Codification provide concerning reporting inventories above cost?

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