2. Complete the statements below that explain any differences in inventory valuation and income between the two methods. The two methods produce the same would be valued at $ reduced by $ entry to reduce inventory to market under the allowance method. net inventory valuations and have the same effects on net income. At the end of Year 3, inventory under the direct method and $ under the allowance method. Income would be after the entry to reduce inventory to market under the direct method and $ after the

2. Complete the statements below that explain any differences in inventory valuation and income between the fwo methods. The two methods produce would be valued at reduced by net imventory valuations and have under the direct method and effects on net income. At the end of Year 3, inventory under the allowance method. Income would be after the entry to reduce inventory to market under the direct method and ater the entry to reduce inventory to market under the allowance method. 2. Complete the statements below that explain any differences in inventory valuation and income between the fwo methods. The two methods produce would be valued at reduced by net imventory valuations and have under the direct method and effects on net income. At the end of Year 3, inventory under the allowance method. Income would be after the entry to reduce inventory to market under the direct method and ater the entry to reduce inventory to market under the allowance method