Jason would like your advice on how to account for the year-end inventory balance and related revenue.
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Question:
50,000 was received from a customer costing 30,000 to be delivered over Jan and Feb of 2023. Inventory was excluded from the year end count . Sales for 2022 are $2,975,000.
Related Book For
Fundamentals of Financial Accounting
ISBN: 978-0078025914
5th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
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