Using the information from BE10- 15, 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.

Using the information from BE10- 13, now assume that Count Clothing is an IFRS reporter. Determine the ending inventory value per unit and the amount of any write- downs per unit using the lower- of- cost- or- market rule, assuming that Count Clothing uses the group- by- group approach to LCM.

Data from BE10- 13

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