Auditing And Assurance Services
Auditing And Assurance Services
17th Edition
ISBN: 9780134897431
Author: ARENS, Alvin A.
Publisher: PEARSON
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Chapter 21, Problem 11RQ
To determine

Identify the misstatements in the valuation of the December 31, 2019, for the deluxe binders assuming FIFO inventory valuation. And also, calculate if the acquisition was for 2,300 binders each at $2.12 each on January 26, 2020.

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