A company sells sports equipment, and with each sale of a full set of equipment provides complimentary equipment-fitting services. A full set of equipment with the fitting services sells for $1,540. Similar equipment-fitting services are offered by other vendors for $150. and the company generally charges approximately 10% more than do other vendors for similar services. Assuming that the equipment and the equipment-fitting services are separate performance obligations, estimate the stand-alone selling price of the equipment-fitting services using the adjusted market assessment approach.

A company sells sports equipment, and with each sale of a full set of equipment provides complimentary equipment-fitting services. A full set of equipment with the fitting services sells for $1,540. Similar equipment-fitting services are offered by other vendors for $150. and the company generally charges approximately 10% more than do other vendors for similar services. Assuming that the equipment and the equipment-fitting services are separate performance obligations, estimate the stand-alone selling price of the equipment-fitting services using the adjusted market assessment approach.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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