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7. R. J. Johnson Supplies had merchandise inventory that cost $1,800. The market value of the merchandise inventory is $1,600. What value should Johnson Supplies

7. R. J. Johnson Supplies had merchandise inventory that cost $1,800. The market value of the merchandise inventory is $1,600. What value should Johnson Supplies show on the balance sheet for merchandise inventory? Record the adjusting entry, if one is needed What value should Johnson Supplies show on the balance sheet for merchandise inventory? O A. $200 OB. $1,600 O C. $3,400 OD. $1,800

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