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Question 73

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Use the following information for questions.
Gorman Construction Co.began operations in 2012.Construction activity for 2012 is shown below.Gorman uses the cost-recovery method.
Use the following information for questions. Gorman Construction Co.began operations in 2012.Construction activity for 2012 is shown below.Gorman uses the cost-recovery method. -Which of the following should be shown on the statement of financial position at December 31, 2012 related to Contract 3? A) Inventory, $200,000 B) Inventory, $350,000 C) Inventory, $2,100,000 D) Inventory, $2,250,000
-Which of the following should be shown on the statement of financial position at December 31, 2012 related to Contract 3?


A) Inventory, $200,000
B) Inventory, $350,000
C) Inventory, $2,100,000
D) Inventory, $2,250,000

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