Business, 08.11.2019 02:31 samueldfhung
Required: 1. compute the carrying value of the ending inventory using the lower of cost or market method applied on an item-by-item basis. $ feedback 1. compare actual cost of inventory to its market value. the lower amount is the value of inventory. if market value is lower, the inventory account is adjusted. 2. prepare the journal entry required to value the inventory at lower of cost or market.
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