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Prepare the necessary December entry

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Question - Marigold Inc. uses a perpetual inventory system. At January 1, 2017, inventory was $215,774,800 at both cost and realizable value. At December 31, 2017, the inventory was $285,178,200 at cost and $265,331,200 at realizable value.

Prepare the necessary December 31 entry under (a) the cost-of-goods-sold method (b) Loss method.

Reference no: EM132288908

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