What is the codification for this case

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Question - AgroCo has a significant amount of corn in its warehouses ready for sale to third party food product manufacturers. AgroCo currently values its agricultural inventory using an average cost system. The president of AgroCo asks, "Since the price of corn has risen recently, is it possible for us to reflect our corn stocks at market prices, rather than at historical cost?"

What is the codification for this case?

Reference no: EM132438894

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