North Company is preparing the annual financial statements dated December $31,2023.$ In formation about

inventory stocked for regular sale follows:

a$.$ Compute the valuation for the December $31,2023,$ inventory using the lower of cost or market basis.

Make nccessary adjusting journal entry$($ies$)$

b$.$ Sold $15$ units of Item $A$ at $$25$ each and written$-$ofr $5$ units of Hem D$.$ Make necessary journal entrice.

Make necessary entries for the following.

a$)$ $$500$ receivables of $xYZ$ Co$.$ is proved to be doubtful which $$200$ of it is granted portion.

$xYZ$ Co$.$ collected $$450$ and the rest is proved to be uncollectable.