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How much is the loss from inventory decline

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Question - Oust the Turtle Company records inventory using the perpetual inventory system and follows the allowance method in accounting for inventory decline. Its ending inventory's costs and net realizable values on the following dates are:

Date

COST

NRV

December 31, 2020

380,000

370,000

December 31, 2021

400,000

385,000

December 31, 2022

200,000

192,000

Required - How much is the loss from inventory decline in 2022?

Reference no: EM132783330

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