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A company reports inventory using the lower of cost and net realizable value. Below is...

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Accounting

A company reports inventory using the lower of cost and net realizable value. Below is information related to its year-end inventory: Inventory Unit A Unit B Unit C Unit D Quantity 19 27 21 24 Ending inventory Cost $34 44 View transaction list 25 17 a. Calculate ending inventory under the lower of cost and net realizable value. 1 NRV $36 41 29 16 b. Prepare the necessary adjusting entry to inventory. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) 4 Journal entry worksheet Note: Enter debits before credits. Saved Record the adjusting entry for inventory.
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A company reports inventory using the lower of cost and net realizable value. Below is information felated to its year-end inventory a. Calculate ending inventory under the lower of cost and net realizable value. b. Prepare the necessary adjusting entry to imventory. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

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