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Knight Corporation uses an Allowance account to record inventory writedowns to NRV. Knight had the following information in the table below for March 31 and

Knight Corporation uses an Allowance account to record inventory writedowns to NRV. Knight had the following information in the table below for March 31 and April 30. What is the gain or loss due to market fluctuations for the month of April?

March 31 April 30 Inventory at Cost 60,000 52,000 Inventory at NRV | 54,000 44.000

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