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Record the adjusting entry for merchandise inventory

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Reference no: EM132764015

ABC Company's knows that Merchandise Inventory should be presented on the Balance sheet at the Lower of Cost of Market. ABC has determined that the current replacement cost of ending Merchandise Inventory at 12/31/18 is $87,000; the cost is $77,00.

Problem 1: Record the adjusting entry for merchandise Inventory, if any is required.

Reference no: EM132764015

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