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College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
ISBN: 9781337280570

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BuyFindarrow_forward

College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
ISBN: 9781337280570
Textbook Problem

The owner of a motorcycle shop allows his two sons to take motorcycles home to try them out on different types of surfaces because he believes that his sons need to be familiar with the products they sell. Sometimes the motorcycles are not returned to the store by the time the physical count of inventory takes place. Respond to this practice.

To determine

Explain the situation, when the motor cycles are not returned to the store by the time of physical count inventory takes place.

Explanation

It is ethical to try the product to become familiar with them, but the tried product must be sold as demonstration model. If the tried product are not returned and accounted, then there will be an adjustment to merchandise inventory...

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