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6 pts Concord Company began operations in 2020 and determined its ending inventory at cost and at LCNRV at December 31, 2020, and December 31,

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6 pts Concord Company began operations in 2020 and determined its ending inventory at cost and at LCNRV at December 31, 2020, and December 31, 2021. This information is presented below. Net Cost Realizable Value 12/31/20 $322,170 $299,520 12/31/21 $409,250 $390,440 Prepare the journal entries required at December 31, 2020, and December 31, 2021, assuming inventory is recorded at LCNRV using the cost-of- goods-sold method. Edit View Insert Format Tools Table 12pt Paragraph U A & Tv

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