Solution-Prepare the journal entry to record write-down of

Prepare the journal entry to record write-down of inventory

Reference no: EM132883989

Problem - Paul Corporation uses FIFO and reports the following inventory information:

	Cost	NRV
December 31, 2019	$312,000	$298,000

Assuming Paul uses a perpetual inventory system and the direct method, prepare the journal entry to record the write-down of inventory.

Reference no: EM132883989

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Prepare the journal entry to record write-down of inventory

Reference no: EM132883989

Reference no: EM132883989

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