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StuKorn
Mar 25, 2008, 10:39 PM
Company has a policy of accepting a trade-in from a customer who purchased the merchandise previously from the company. The company will give a credit toward the new purchase in the amount of the original purchase price providing the customer purchases a new item for twice the original price. Do you have to take the traded-in item into inventory at the traded-in value, even if it is worth less than the original sales price?