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Given the following inventory information, prepare the journal entry (if needed) to adjust the inventory...

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Accounting

Given the following inventory information, prepare the journal entry (if needed) to adjust the inventory for LCNRV of the loss method is used.

Replacement value $16500, cost $15500, expected selling price $15700, normal profit margin $12%, Selling costs 20% of expected selling price.

Help me please!

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