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The use of the retail method to value inventory

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Reference no: EM131000295

Access the FASB's Codification Research System at the FASB website (www.fasb.org). Determine the specific citation for each of the following items:

1. The income statement presentation of losses from the write-down of inventory.

2. The determination of market value for applying LCM to inventory.

3. The accounting treatment required for a correction of an inventory error in previously issued financial statements.

4. The use of the retail method to value inventory. 

Reference no: EM131000295

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