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Current year end is 12/31/X5 Contract Price to purchase inventory from Follet Corporation $813,000 Market price of inventory at end of year = $800,000 Inventory
Current year end is 12/31/X5 Contract Price to purchase inventory from Follet Corporation $813,000 Market price of inventory at end of year = $800,000 Inventory had not yet been purchased by year end closing. The journal entry required at year end is as follows (select the correct letter choice)
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Multinational Business Finance
Authors: David K. Eiteman, Arthur I. Stonehill, Michael H. Moffett
10th Edition
0201785676, 9780201785678
