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Red Hen Company produces and sells eggs. Eggs are produce using chickens with a two...

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Accounting

Red Hen Company produces and sells eggs. Eggs are produce using chickens with a two year life. After two years, the chickens are sold to a soup company. On Reds balance sheet, should the chickens be classified as inventory or equipment? Please support your answer using FASB pronouncements and an example from a publicly held corporation.

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