Question: 2) 8%- With the following data what is the inventory to be reported under GAAP and IFRS. Why is there a difference in the

2) 8%- With the following data what is the inventory to be reported under GAAP and IFRS. Why is there a difference in the number presented? Explain Product A has a cost of $120, a selling price of $130 and a replacement cost of $120. Selling costs and normal profit margins are 10% of the sales price

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