Question: Brooks Company carries three inventory items The following information pertains

Brooks Company carries three inventory items.
The following information pertains to the ending inventory:
Required
a. Determine the ending inventory that Brooks will report on the balance sheet, assuming that it applies the lower-of-cost-or-market rule to individual inventory items.
b. Prepare the necessary journal entry, assuming the decline in value was immaterial.



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  • CreatedApril 20, 2015
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