Blueberry company is a trading company. Due to certain incident, some of the inventory is...
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Accounting
Blueberry company is a trading company. Due to certain incident, some of the inventory is damaged and needs to be repackaged. The cost of repackaging was $ 50,000 to enable the inventory to be sold at $ 1,100,000. The cost for the batch is $1,000,000
How should Blueberry company treat the cost of repackaging? (is it an expense or included in Cost of Goods Sold)? Also prepare the journal entries!
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