Question: Mark Corp has the following preliminary inventory data at december 31st, 2018: Inventory Cost: 52,000 Inventory allowance (Prior to Adjustment): (1,700) Net: 50,300 Mark recorded

Mark Corp has the following preliminary inventory data at december 31st, 2018:

  • Inventory Cost: 52,000
  • Inventory allowance (Prior to Adjustment): (1,700)
  • Net: 50,300

Mark recorded the following adjusting entry to finalize the 2018 FS:

Loss due to market decline of inventory: 50

Inventory Allowance: 50

What is the inventory market value at 12/31/2018?

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