Sycamore enters into a contract with a customer to sell three products for a total...
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Sycamore enters into a contract with a customer to sell three products for a total transaction price of $15,000. Each product is appropriately classified as a separate performance obligation. Sycamore only sells bricks and stones on an individual basis, so it must estimate the standalone selling price for cement. Information related to these three products is provided in the following table. Product Standalone Selling Price Forecasted Cost Market Competition Price Bricks $6,200 $5,500 $7,800 Stones $8,000 $5,000 $8,200 Cement Not Available $2,000 $4,000 Total $12,500 $20,000
What is the standalone selling price of Cement using the adjusted market assessment approach?
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