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Which of the two companies most likely reports under US GAAP

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Question - Consider the following statements regarding Company A and Company B:

The two companies have identical operating results but have made different accounting method choices.

Company B reported lower COGS than Company A this year. Prices rose throughout the year.

Both companies took a PP&E write downs in 2016. Company B reversed the write down and wrote the assets back up this year.

Which of the two companies most likely reports under US GAAP?

Reference no: EM132597970

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