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How much of a charge should she take in the current year

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Question - Egge corp. also sells a replica of the lost city of Petra in Jordan. She has been selling them for $50 and they only cost $20 to make. She has been able to sustain such a large mark up because she was the only company to make the replicas with Jordan dirt as one input. However, a competitor has now come into the market and she can only sell her replicas for $30 now. How much, if any, of a charge should she take in the current year financial statements?

Reference no: EM132624328

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