Question: I want to solve the question please Question 2: Camcorder Central sells high-end Sony camcorders and accounts for its inventory using FIFO with a perpetual

I want to solve the question please I want to solve the question please Question 2: Camcorder Central sells
high-end Sony camcorders and accounts for its inventory using FIFO with a

Question 2: Camcorder Central sells high-end Sony camcorders and accounts for its inventory using FIFO with a perpetual inventory recording system. Camcorder Central is a December year-end company, On December 31, 2016, the inventory records of the company shows the following inventory layer. Ending Inventory per book : 30 units x @$120 Required: Provide proper journal entries or balance figure for the following questions, Camcorder Central sells high-end Sony camcorders and accounts for its inventory using FIFO with a perpetual inventory recording system. Camcorder Central is a December year-end company. On December 31, 2016, the inventory records of the company shows the following inventory layer. Ending Inventory per book : 30 units x @$120 Required: Provide proper journal entries or balance figure for the following questions. 1. On December 31, 2016, Camcorder Central conducted physical count of ending inventory to find 28 units remaining on hand. What is the appropriate journal entry to record this finding? (4 points) 2. On December 31, 2016, Camcorder Central estimated the net realizable value of the ending inventory, which is only @$115. What is the appropriate journal entry to record this event? (4 points) 3. On the balance sheet as of December 31, 2016, what is the ending balance of the inventory Camcorder Central reports? (2 points) 12:57 PM

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