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At the end of the period, a Company reviews its inventory balance. The company's current book value of inventory is $350,000. The market value of

At the end of the period, a Company reviews its inventory balance. The company's current book value of inventory is $350,000. The market value of this inventory is $250,000. What journal entry is required at the end of the period to recognize the Company's inventory at a lower of cost or net realizable value?

How come the answer to this question is that no entry is required?

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