A 120000 write-off of obsolete inventory.? in its 2012, Ask an Expert

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James, Inc. incurred the following infrequent losses during 2012:?A $140,000 write-down of equipment leased to others.?A $80,000 adjustment of accruals on long-term contracts.? A $120,000 write-off of obsolete inventory.? In its 2012 income statement, what amount should James report as total infrequent losses that are not considered extraordinary?

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M9432637

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