Transcription of Inventory Valuation Guidance
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1 Working Draft of Inventory Valuation Guidance from Forthcoming AICPA Accounting and Valuation Guide Business Combinations Released November 19, 2018 Prepared by the Business Combinations Task Force Comments should be sent by May 1, 2019 to Yelena Mishkevich at 2 2018 American Institute of Certified Public Accountants. All rights reserved. Permission is granted to make copies of this work provided that such copies are for personal, intraorganizational, or educational use only and are not sold or disseminated and provided further that each copy bears the following credit line: 2018 American Institute of Certified Public Accountants.
7 Chapter 12 Inventory Background 12.01 Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 805, Business Combinations, requires that inventory acquired in a business combination is recognized and measured at the acquisition date fair value in accordance with FASB ASC 820, Fair Value Measurement.
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