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Calculate the lower of cost or market (using item-by-item comparison) for the follow scenario. What is the necessary adjusting journal entry?: Item Quantity Unit Cost

Calculate the lower of cost or market (using item-by-item comparison) for the follow scenario. What is the necessary adjusting journal entry?:

Item	Quantity	Unit Cost	Unit Market Price
A	50	30	35
B	85	100	90
C	60	40	42
D	100	65	55

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