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Provide the required adjusting journal entry

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Question - On September 1, 2020, management finds 200 units of damaged inventory. Management estimates that the damaged units will only be sold for $10 per unit, and this will be after spending $1 per unit for clean-up, to get them ready for sale. Provide the required adjusting journal entry. [Assume the FIFO cost formula has been used.]

Reference no: EM132618785

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