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for question 10 of September 2016, can you please explain this part of the answer: ((800 – 600) x 30%). I have no clue.
The fair value adjustment as at date of acquisition was $200,000 and 70% of that inventory has been sold
So 30% has not been sold
That means that 30% of that $200,000 fair value adjustment is still in inventory
So combined inventory is $3,250,000 + $1,940,000 + $60,000 = $5,250,000
Better?
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