Asked Dec 17, 2019

Describe two major methods to account for byproducts.


Expert Answer

Step 1

By Products:

 By products are the products which are produced unintentionally along with the main product. By products have lower value than the primary product manufactured in the same process.


Step 2

Identify the methods to account for by products:


  • Production method
  • Sales method
Step 3


  • Production method identifies by products in the financial statements when production is accomplished.
  • Sales ...

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