Inventory Was Acquired as Part of a Business Combination at the End

question 3

Multiple Choice

Inventory was acquired as part of a business combination at the end of 2012. The inventory was sold in 2013. How should the fair value adjustment for the inventory at acquisition be treated for consolidation at the end of 2013?

• A)It should be added to sales.
• B)It should be added to the cost of goods sold.
• C)It should be added to retained earnings.
• D)It should be added to inventory.

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A person's standing or rank in society, which can be determined by wealth, occupation, education, or other factors influencing social value.

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