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    Fundamental Accounting Principles Study Set 4
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    Exam 6: Inventories and Cost of Sales
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    A Company's Cost of Inventory Was $317,500
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A Company's Cost of Inventory Was $317,500

Question 189

Question 189

True/False

A company's cost of inventory was $317,500. Due to phenomenal demand the market value of its inventory increased to $323,000. This company should write up the value of its inventory according to the consistency principle.

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