detailed answer for this question & explanation Prior to the close of...
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detailed answer for this question & explanation 
Prior to the close of its September 30 fiscal quarter, a manufacturer(seller) completes production of 50,000 specialised gas valves. The valves sell for 60 each and were ordered by customers that assemble and sell gas fireplaces. The customers are unable to take delivery by Sept 30 for reasons that include: (1) lack of available space, (2) having ample inventory on hand to cover production for the next month, and (3) delayed production schedules. The seller segregates the valves awaiting shipment from other unsold products in its own warehouse and wishes to recognise 3,000,000 of revenue in the current quarter from these goods produced, but not shipped. Required Can the seller do this? Justify your
detailed answer for this question & explanation
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