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How much revenue should ABC recognize

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Question - ABC Company is holding goods with a selling price of $ 120000 which cost them $ 70000. On December 3, 2019, ABC sold the goods to Timmons under a bill- and - hold arrangement. At the end of 2019 ABC still holds the goods. Assume ABC meets the four conditions necessary under a bill- sand - hold arrangement to claim it has transferred control to the buyer. How much revenue should ABC recognize for 2019?

Reference no: EM132483836

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