The following information applies to the questions displayed below. A company like Golf USA that...
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The following information applies to the questions displayed below. A company like Golf USA that sells golf rclated inventory typically will have inventory items such as golf clothing and golf equipment. As technology advances the design and performance of the next gencration of drivers, the older models become less marketable and therefore decline in value. Suppose that in the current year, Ping (a manufacturer of golf clubs) introduces the MegaDriver II, the new and improved version of the MegaDriver. Below are amounts related to Golf USA's inventory at the end of the year. Inventory Quantity Cost NRV $ 69 245 $59 350 Shirts 34 MegaDriver 29 345 410 value: Required information 6.53 points 2. Record any necessary adjustment to inventory. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the adjustment for inventory Note: Enter debits before credits General Journal Debit Credit Record entry View general journal Clear entry
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