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Brooks Company carries three inventory items. The following information pertains to the ending inventory: a. Determine the ending inventory that Brooks will report on the

Brooks Company carries three inventory items. The following information pertains to the ending inventory: a. Determine the ending inventory that Brooks will report on the balance sheet, assuming that it applies the lower-of-cost-or-market rule to individual inventory items. b. Prepare the necessary journal entry, assuming the decline in value was immaterial

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