Question: Question 4: Item A B D KLM Company is preparing the annual financial statements dated December 31, 2020. Quantity Unit Cost Market on Hand When

Question 4: Item A B D KLM Company is preparing the

Question 4: Item A B D KLM Company is preparing the annual financial statements dated December 31, 2020. Quantity Unit Cost Market on Hand When Acquired Value at year end 150 $30 $21 200 70 53 140 65 55 52 120 50 a) Compute the valuation for the December 31, 2020, inventory using the lower-of-cost-or-market value basis and make necessary adjusting journal entries. b) Sold 25 units of A for $28 in cash and 10 units of D for $45 each in cash and 5 unites of C was written-off. Make necessary journal entries

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