Used equipment transferred between properties with different ownership or between a property and a warehouse, is valued at a percentage of the current new prices times the condition value. While most COPAS Model Form Accounting Procedures (APs) provide for a fixed percentage that corresponds to the condition of the equipment, the 1995 and Project Team APs have an option for used material to be priced at the “percentage most recently recommended by COPAS.” For this reason, COPAS conducts an annual survey to determine the used-equipment percentages that are effective January 1 of the applicable year.
* B Condition material is charged at 75% of current new price. B condition material is credited at 75% of current new price if the material was new when it was charged to the property, or at 65% if the material was used when it was charged to the property. C condition material is always charged and credited at 50% of current market value, subject to certain provisions concerning reconditioning costs.