Question: On 3 1 1 2 ? 2 0 2 0 , ABC Company had inventories costing $ 1 0 0 0 0 . The estimated

On 3112?2020,ABC Company had inventories costing $10000. The estimated selling price was $12000, the estimated cost of completion was $2000, and the
estimated cost to make the sale was $1000.
Prepare the accounting entry on 3112?2021, assuming that NRV (on 3112?2021) was $12000 and the amount is immaterial
a.
b.
e.
On 3112?2020,ABC Company had inventories costing $10000. The estimated selling price

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