woodmier lawn products introduced a new line of commercial sprinklers in 2020 that carry a one-year warranty against manufacturer’s defects. because this was the first product for which the company offered a warranty, trade publications were consulted to determine the experience of others in the industry. based on that experience, warranty costs were expected to approximate 2% of sales. sales of the sprinklers in 2020 were $2,500,000. accordingly, the following entries relating to the contingency for warranty cos
