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In this question the intra group sale resulted in a loss and in the answer they state it is not adjusted since the sale was made at the fair value,
can i know what happens if they make a loss and sale was made a price below fair value?
will it be the same principles as the question?
Hi,
This has only ever appeared in the exam once and I doubt it would appear again. If it did then it would follow the same principle.
If it were to be less than fair value then you would need to increase the loss up to the fair value.
Thanks
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