Davis Inc. enters into a contract with a customer to sell 100 distinct items of...
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Davis Inc. enters into a contract with a customer to sell 100 distinct items of merchandise for $10,000 ( $100 per item) over a 12-month period. Six months later, the parties to the contract agree to a contract modification to add an additional 50 items for $105 each within the original contract period. The $105 per unit price for the additional items does not represent the standalone selling price of these items on the date of the modification. If 75 items had already been delivered under the original contract, how would revenue be allocated to the remaining 25 items under the original contract and the 50 items per the contract modification? Select one
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