Cammy Company had inventory at the end of the first quarter having a cost of $420,000 and market value of $410,000. Cammy recognized a $10,000 loss in its first quarter financial statements due to market declines. At the end of the second quarter, the inventory had a cost of $450,000, and a market value of $480,000. Cammy's action in the second quarter should be ? Calculate ?

Answer rating: 100% (QA)

Cammy Company needs to assess the recoverability of the previous quarters inventory loss Here are th... View the full answer