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Business, 06.07.2019 05:10 andybiersack154

Under the principle of lower-of-cost-or-market, when a company has 10 units of inventory a with market value of $50 and a cost of $60, what is the adjustment? -debit inventory $100; credit cost of goods sold $100.-debit inventory $500; credit cost of goods sold $500.-debit cost of goods sold $100; credit inventory $100.-debit cost of goods sold $500; credit inventory $500.

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Under the principle of lower-of-cost-or-market, when a company has 10 units of inventory a with mark...
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