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Subject Topic: Gross Profit Method (Topic Closed Topic Closed) Post ReplyPost New Topic
  
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oceanwave1000
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Joined: 21 Aug 2011
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Posted: 28 Aug 2011 at 21:41 | IP Logged  

When using gross profit method, do we value inventory at
cost or retail?

Since Becker material says we value inventory at retail,
however I have read on other websites that it's valued at
cost.

Please advise.
Thank you.
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malora88
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Posted: 30 Aug 2011 at 08:53 | IP Logged  

Inventory is valued at NRV.

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