Asset Valuation Tardy Brewing Company is preparing its balance sheet at year-end and needs guidelines on how a variety of its assets should be valued. For each of the items listed, indicate the valuation process normally used and the potential impact on financial statement analysis if an alternative measure is used:

Book Fair Present Value Value Value a. Cash $45,000 $45.000 $45,000 b. Accounts receivable 30,000 28,000 28,000 c. Inventory A 12,000 32,000 32,000 d. Inventory B 9,000 8,000 7,500 e. Machinery 65,000 83,000 94,000 f. Patents 18,000 24,000 29,000