Question
Mark Corp has the following preliminary inventory data at december 31st, 2018: Inventory Cost: 52,000 Inventory allowance (Prior to Adjustment): (1,700) Net: 50,300 Mark recorded
Mark Corp has the following preliminary inventory data at december 31st, 2018:
- Inventory Cost: 52,000
- Inventory allowance (Prior to Adjustment): (1,700)
- Net: 50,300
Mark recorded the following adjusting entry to finalize the 2018 FS:
Loss due to market decline of inventory: 50
Inventory Allowance: 50
What is the inventory market value at 12/31/2018?
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Financial and Managerial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
3rd edition
978-1-119-3916, 1119392132, 1119392136, 9781119391609, 1119391601, 978-1119392132
