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    Financial Accounting Study Set 25
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    Exam 6: Inventories
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    GAAP's Provision for Ownership of Goods (Goods-In-Transit or Consigned Goods)
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GAAP's Provision for Ownership of Goods (Goods-In-Transit or Consigned Goods)

Question 223

Question 223

Short Answer

GAAP's provision for ownership of goods (goods-in-transit or consigned goods), as well as which costs to include in inventory, as compared to IFRS are: GAAP's provision for ownership of goods (goods-in-transit or consigned goods), as well as which costs to include in inventory, as compared to IFRS are:   IFRS: IFRS:

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