The case requires students to complete the following requirements, generally prepared in the form of a research memo, with proper references to the Accounting Standards Codification (FASB 2015) and attention to appropriate writing style.

Summarize the relevant facts of the case, including transactions, parties involved, etc. Provide specific information about the nature of the relationships between the parties, intentions of the agreements related to the transactions, and financial data associated with prior transactions, as well as any other pertinent information that would impact the research.

The relevant facts identified by students should include the following:

Identify the primary research issue(s) based on the facts of the case.

The fundamental issue of the case is accounting for inventory transactions: How should the sales of inventory from Juneau Supply to Condor and the purchases by Rex from Condor be recorded and reported? In addressing this issue, the first primary issue...

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