Zahler Company uses a periodic inventory system and the average cost method. At December 31,2025,...
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Accounting
Zahler Company uses a periodic inventory system and the average cost method. At December the following information has been compiled for its finished goods inventory:
Replacement value $
Cost $
Expected selling price $
Normal profit margin
Selling costs of expected selling price
After applying LCNRV Zahler, which uses the cost of goods sold method to record inventory writedowns, will make an entry
debiting Cost of Goods Sold for $
crediting Inventory for $
crediting Cost of Goods Sold for $
debiting Inventory Loss for $
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