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Calculate the amount of the adjustment for the following situation. The farmers purchased pelleted feed for $2,000 and salt and mineral blocks for $350 on
Calculate the amount of the adjustment for the following situation.
- The farmers purchased pelleted feed for $2,000 and salt and mineral blocks for $350 on December 15. All of it was still on hand at the end of the year. This purchase was not paid for by December 31. The farmers had purchased feed on hand at the beginning of the year with the following costs: pelleted feed, $1,000; and grain, $500.
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