Question
As of 12/31/17, Demotivated Reasoning Corp. has the following inventory in stock: Inventory Type Quantity Historical Cost per Unit Replacement Cost per Unit Estimated future
As of 12/31/17, Demotivated Reasoning Corp. has the following inventory in stock:
| Inventory Type | Quantity | Historical Cost per Unit | Replacement Cost per Unit | Estimated future sales price |
| Schrute Bobblehead Dolls | 500 | $32.00 | $29.50 | $49.00 |
Required: Record the adjusting journal entry (if any) that Demotivated Reasoning should record with respect to its inventory value on this date.
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Financial Theory and Corporate Policy
Authors: Thomas E. Copeland, J. Fred Weston, Kuldeep Shastri
4th edition
321127218, 978-0321179548, 321179544, 978-0321127211
