Essay
In the following information from the 2015 annual reports of Focal Point Industries all figures have been rounded to millions of dollars. 
REQUIRED:
1 Describe what costs are included in each of the three types of inventories listed above for Focal Point Industries.
2 Even though the footnote describing the inventory costing methods used by Focal Point Industries is not
provided above, what can you conclude about the inventory costing methods used by the company?
Correct Answer:
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1 "Raw materials" consists of materials ...View Answer
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