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  3. Why are fully depreciated assets still on my inventory?
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  3. Why are fully depreciated assets still on my inventory?

Why are fully depreciated assets still on my inventory?

Assets are recorded on the University Financial Statements at a value calculated as follows:

Cost – Accumulated Depreciation = Asset Cost

If an asset is being used, it still has value to the University and therefore, it remains in the inventory.

The asset will remain in the inventory until disposed of, per REG 07.40.01 – Disposal of University Property.

Updated on February 28, 2020

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