A. What, if any, is the amount of the lower cost or market adjustment? B. What is
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Question:
A. What, if any, is the amount of the lower cost or market adjustment?
B. What is the journal entry to record the adjustment?
BCN, Co accumulates the following cost and market data at 12/31/XX.
Product | Cost | Market |
12GB memory cards | $53,000 | $45,000 |
Camera mounts | $28,000 | $27,000 |
Waterproof camera covers | $14,000 | $21,000 |
Camera light assembly | $6,000 | $8,000 |
total | $101,000 |
Related Book For
Accounting Tools for business decision making
ISBN: 978-0470095461
4th Edition
Authors: kimmel, weygandt, kieso
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