[Solved] inventory to Small for $9,000,000 at the

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inventory to Small for $9,000,000 at the cost of $7,000,000, by the end of 2009 75% of the batch of inventory was sold to outsider.

inventory to Small for $9,000,000 at the cost of $7,000,000, by the end of 2009 75% of the batch of inventory was sold to outsider. Please note that Small use LIFO. Please write down the adjusting journal entries for 2008 and 2009 separately

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