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please clearly answer. I don't want calculations or explanations. Just what is going in boxes please. Metlock, Inc. values its inventory at the lower-of-LIFO-cost-or-market. The

please clearly answer. I don't want calculations or explanations. Just what is going in boxes please. image text in transcribed
image text in transcribed
Metlock, Inc. values its inventory at the lower-of-LIFO-cost-or-market. The following information is available from the company's inventory records as of December 31, 2020. Item X490 X512 X682 Z195 2846 Quantity 10,608 5.148 18.720 13,000 8,944 Unit Cost $13.00 7.28 19.76 14.82 Replacement Cost/Unit $12.43 7.80 19.34 14.56 13.26 Estimated Selling Price/Unit $14,56 9.26 32.81 20.59 14.51 Completion & Disposal Cost/Unit $3.12 0.26 3.38 1.46 2.18 Normal Profit Margin/Unit $3.54 1.87 9.36 5.98 1.14 12.48 Show the journal entries Metlock, Inc. will need to make in order to write down the ending inventory from cost to market. Assume this is Metlock's first year of operations. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,275.) Debit Credit Account Titles and Explanation Cost of Goods sold Method: Cost of Goods Sold Loss method

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