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Determine the appropriate means of reporting each situation

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Question - Umbrella is a supplier under a non-cancellable contract signed October 2022 to provide 100,000 units of computer parts to its customer, Pogo Company, at $2.00 per piece. The cost of producing the parts has increased to $3.00 per piece as a result of a worldwide material shortage. Umbrella has an obligation to deliver the 100,000 units during the financial year ending December 31, 2023.

Required - Determine the appropriate means of reporting each situation.

Reference no: EM132624285

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