How should sellers account for a right of return, Cost Accounting

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How should sellers account for a right of return

Consider the following questions:

1. Is variable consideration included in the calculation of a contract's transaction price? If so, how is the amount of variable consideration estimated?

2. How are sellers constrained from recognizing variable consideration, and under what circumstances does the constraint apply?

3. Is a customer's right to return merchandise a performance obligation of the seller? How should sellers account for a right of return?

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Cost Accounting: How should sellers account for a right of return

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Cost Accounting: How should sellers account for a right of return

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