Solution-Prepare the necessary journal entry

Prepare the necessary journal entry

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Reference no: EM13930517

Waldron Company carries three inventory items. The following information pertains to the ending inventory:

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Required:

a. Determine the ending inventory that Waldron will report on the balance sheet, assuming that it applies the lower of cost or market rule to individual inventory items.

b. Prepare the necessary journal entry, assuming the decline in value was immaterial.

Reference no: EM13930517

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Prepare the necessary journal entry

Reference no: EM13930517

Reference no: EM13930517

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