Accounting for obsolete inventory — AccountingTools
https://www.accountingtools.com/articles/obsolete-inventory-accounting
WebApr 4, 2024 · As another example, Milagro Corporation sets aside an obsolescence reserve of $25,000 for obsolete roasters. However, in January the purchasing manager knows that the resale price for obsolete roasters has plummeted, so the real reserve should be closer to $35,000, which would call for the immediate recognition of an additional $10,000 of …
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