(Solved): Loper Ea had three major busines transactions durins 2022 In each situabion, identify the assumptio ...

Loper Ea had three major busines transactions durins 2022 In each situabion, identify the assumption or princple that has besen wolated. (a) Reperted at its fair value of $$\$260,000$$ merchandise iventory with a cost of $$\$208,000$$. (b) The president of Lopez Co, Yetor Lopez, purchased a truck for personal use and chargen (c) Lopez Co. wanted to make its 2022 income look better, sa it Idded 2 more weeks to its ir period ta 54 -weck year). Previous years were 52 weeks.