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Hi Mike,
in the exam June15, Q.9, the Retained Earning calculation deducts the full amount of URP in inventory instead of taking the 80% of it (corresponding to the participation %).
In a similar example in my BPP book (pag.136) instead it considers the URP multiplied by the % of participation.
Which one of the 2 approaches is correct?
Thanks
Luigina
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