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Omaha Corporation uses FIFO and a periodic inventory system. You have been provided with the following information relating to the company's inventory for the year

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Omaha Corporation uses FIFO and a periodic inventory system. You have been provided with the following information relating to the company's inventory for the year ended December 2020: REQUIRED: Record the adjusting journal entry (entries) that are required to bring Omaha's inventory accounts and cost foods sold up to date for 2020

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