Steps for Writing a Short Issues Memo-Inventory Valuation You have been asked...
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Steps for Writing a Short Issues MemoInventory Valuation You have been asked to draft a brief issues memo to the files" analyzing the following issue. Charles Corp. has leased a mine from which it recently extracted kilograms of bauxite a min eral used in producing aluminum Charles Corp. plans to sell the bauxite to aluminum manufacturers. Charles Corp. is analyzing whether its bauxite inventory can be carried at its selling price per ASC b Assume that quoted market prices are generally available for bauxite, and that the market for bauxite is active. Using the standard memo format, analyze whether all necessary conditions are met for the accounting treatment proposed. If assumptions are needed to fully evaluate the guidance, identify those assumptions in your analysis. For this particular memo, you are not required to present alternative treatments; assume for this issue that you have solely been asked to document whether the conditions in ASC b are met. 
Steps for
Writing a Short Issues MemoInventory Valuation You have been asked to draft a brief issues memo to the files"
analyzing the following issue.
Charles Corp. has leased a mine from which it recently extracted kilograms of bauxite a min
eral used in producing aluminum Charles Corp. plans to sell the bauxite to aluminum manufacturers.
Charles Corp. is analyzing whether its bauxite inventory can be carried at its selling price per ASC
b Assume that quoted market prices are generally available for bauxite, and that the market
for bauxite is active.
Using the standard memo format, analyze whether all necessary conditions are met for the accounting treatment
proposed. If assumptions are needed to fully evaluate the guidance, identify those assumptions in your analysis. For this
particular memo, you are not required to present alternative treatments; assume for this issue that you have solely been
asked to document whether the conditions in ASC b are met.
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