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Mathematics, 17.10.2019 18:30 nananananananan03
Gow constructors, inc., has consistently used the input method based on costs incurred to measure the progress toward completion of a long-term construction contract. in year 1, gow started work on an $18 million construction contract that was completed in year 2. the following information was taken from gow’s year 1 accounting records: costs incurred $ 5,400,000 collections 4,200,000 estimated costs to complete 10,800,000 what amount of gross profit should gow have recognized in year 1 on this contract?
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