Application of computed value in Customs valuation
Here is an example of application of the computed value method in customs valuation as tested on a previous Customs Broker License Exam. Customs broker exam April 2001 Test 41) Laminate Industries in Seattle, Washington, sells laminated plywood sheets to the building and home improvement industries. It purchases its large plywood sheets from its parent company, Canadian Laminates, located in Alberta, Canada. Canadian Laminates imports the sheets from its British manufacturer and then sends them to the U.S. firm. The Canadian firm stopped manufacturing in Canada because the general expense cost skyrocketed to15%, while the profits were only 1% for these plywood laminate sheets. Customs broker exam prep This was not the result of problems at Canadian Laminates, but reflective of the entire Canadian industry that produces these laminated products for export sales to the United States. In Britain plywood laminate producers are able to hold general expenses to 3%, while recoupi...