Question: Using the information from BE10- 13, prepare the journal entry to record the write- down to market for the Stain Resistant model under both the

Using the information from BE10- 13, prepare the journal entry to record the write- down to market for the Stain Resistant model under both the direct and indirect methods. Assume that Count Clothing has 3,500 units of the Stain Resistant model in stock.

Current Normal Profit Group Regular Stain Resistant Replacement Cost Selling Price Disposal Costs Margin FIFO Cost $120 230 $70 45 $118 240 $190 $20 250 26

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