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Please help with this question. Thanks. As a result of its annualimentorv count, Bramble Corp detormined itsendint inventory at cost and at lower of cost
Please help with this question. Thanks.
As a result of its annualimentorv count, Bramble Corp detormined itsendint inventory at cost and at lower of cost and net realizable value at December 31 , 2022. and Decomber 31. 2023 Docember 31,2022 war Bramble's first year end. This information is as follows: Prepare the journal entries required at December 31. 2022 and 2023 , assuming that the inventorvis recorded directly at the lover of cost and net reailabie value and a periodic inventory syspemis uied. (Credit account tities are automotically indented when the amsunt is entered Donot indent manually, If no entry Is required, select "No Entry" for the occotint tities and enter Ofor the amcunth. Lint al debit entries before credt entries. Prepare the journal emtries required at Decenbee 31.2022 and 2023 assuming that the inventony is recorded directly at the iower of cost and net realizable value and a periodic enter ofor the amounts. Wist all debit entries belore credit entries) Prepare the journal entries required at December 31,2022 and 2023 , assuming that the imentory is recorded at cost and an allowance account is ad, asted at each year end under a period k system. CCrefit occount titles are outomaticaliy inderted when the omount is entered, Do not indent manually. If no entry is required, select "No Entry" for the eccount titles ond enter O for the amounte tist ell debit entries before credit entries) elentbook and Media List of Accounts Whichat then two mettoos atoye nirowides the hisher net incone in each yeam? elextbhek and Media List of Accounts Step by Step Solution
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