Question: Question 3 (ASC Required - 20 points): After working in both the movies and a massive conglomerate, you decide to pursue a quiet life on

 Question 3 (ASC Required - 20 points): After working in both

Question 3 (ASC Required - 20 points): After working in both the movies and a massive conglomerate, you decide to pursue a quiet life on the farm down near Salinas. However, your business savvy means you end up growing into a large, publicly traded company and thus have to follow GAAP. Your operations are getting very large and using traditional inventory systems, such as how you accounted for inventory at your prior jobs, is getting extremely complex and unwieldy. What alternatives and options do you, as a farmer and major agricultural entity, have for dealing with this accounting issue

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