Question: May I ask for an explanation and supporting solution in good accounting form to the problem for a better understanding. Thank you! Painter Inc. sells

May I ask for an explanation and supporting solution in good accounting form to the problem for a better understanding. Thank you!

Painter Inc. sells several types of paint. Due to the low demand, it would be testing its inventory for impairment. It gathered the following information: Unit Selling Price Ave. Unit No. Brand Type Size Units Unit Cost (Updated) Cost to Sell 001 A Water-based 4-liter 10 P 350 P 400 P 70 002 A Water-based 16-liter 20 1,150 1,300 250 003 A Acrylic 16-liter 20 1,200 1,700 300 004 B Water-based 16-liter 5 1,075 1,250 200 005 B Acrylic 4-liter 15 400 600 70 006 B Acrylic 16-liter 10 1,250 2,000 250 How much should be reported as loss from inventory write-down

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