The case aims to help students understand the basic accounting concepts and principles, such as historical cost measurement and fair value measurement, the impairment loss and$/$or its reversal, the cost being expensed or capitalized, etc. The case also enhances students$$ understanding of the difference between GAAP and IFRS in terms of valuation of inventory at year end and the reporting of PP&E$.$ The project will also allow students to explore FASB Codification.