Business, 03.03.2020 01:32 niescarlosj

In conversation with the president of Widget Tek, you have learned that much of the company’s merchandise inventory consists of older Widget Tek models. These older models sell for less than the newer Widget Tek models, but customers strongly prefer the newer models. The company believes that the net realizable value of the older merchandise inventory is less than its value in the subsidiary inventory ledger.
Considering all of the information you have about Widget Tek Inc., answer the following questions.
1. To better account for the older inventory, the president of Widget Tek Inc. wonders whether the inventory should be valued using a different method. Do you agree, and why or why not? because will .
2. Will a change in inventory method increase a company's net income on its financial statements?
3. When is inventory not valued at cost?

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In conversation with the president of Widget Tek, you have learned that much of the company’s mercha...

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