Explain how does the accounting for normal spoilage

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Q. Explain how does the accounting for normal spoilage and rework differ from the accounting for abnormal spoilage and rework?

Q. What is the theoretical rationale for accounting for normal spoilage and rework differently from abnormal spoilage and rework? Be specific. As a hint, think about how GAAP says we should calculate the cost of inventory.

Reference no: EM13128225

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