Question: Sure feet Corporation changed its inventory valuation method. Which characteristic is jeopardized by this change? Feedback value. Representational faithfulness. Comparability. Consistency. Land was acquired in

Sure feet Corporation changed its inventory valuation method. Which characteristic is jeopardized by this change? Feedback value. Representational faithfulness. Comparability. Consistency. Land was acquired in 2011 for a future building site at a cost of $40,000. The assessed valuation for tax purposes is $27,000, a qualified appraiser placed its value at $48,000, and a recent firm offer for the land was for a cash payment of $46,000. The land should be reported in the financial statements at: $48.000. $40,000. $27.000. $46,000

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