Required to adjust the inventory account

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Reference no: EM131203346

The company has 395 units of bell-bottom jeans with a cost of $18.00 per unit and a market value of $16.00 per unit. The inventory also includes 1,020 units of boot cut jeans with a cost of $17.00 per unit and a market value of $20.00 per unit. Required: Prepare the journal entry, if any, that is required to adjust the Inventory account.

Reference no: EM131203346

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