A company purchases airplanes for sale to others.

legsars Posts: 2, Reputation: 1

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Feb 27, 2012, 11:05 AM

A company purchases airplanes for sale to others.

A company purchases airplanes for sale to others. However, until they are sold, the company charters and services the planes. What is the proper way to report these airplanes in the company's financial statements?

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