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At what amount should the entity value the stock

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Question - An individual buys 100 shares of common stock for $8,000 in January. The value of the stock fluctuates in a narrow range (averaging $8,400) throughout the year. In November, when it has a value of $9,500, he donates it to a not-for-profit entity. On December 31, the stock has a fair value of $8,200. At what amount should the entity value the stock on its December 31 statement of financial position?

Reference no: EM132955096

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