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please solve Question 11 and 8. Thank you ! Question:11 Question: 8 Current Attempt in Progress Given the following inventory information, prepare the journal entry

please solve Question 11 and 8. Thank you !
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Question: 8
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Current Attempt in Progress Given the following inventory information, prepare the journal entry (if needed) to adjust the inventory for LCNRV if the loss method is used. (List debit entry before credit entry. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select 'No Entry' for the occount titles and enter 0 for the amounts.) Given the tollowing inventory information, prepare the joumal entry bi needed to adjust the imentory for LCNRV if she loss method is used, (List debit entry before aredit entry. Credlt ocoount titles ave eutomabically indented when the amount is mitered, Do not indent monusly if no entry is roquint, select "Nio Dntry" for the occount bibiei and enter Ofor the amounts) Given the following inventory inlormation, prepare the journal entry (if needed) to adivist the inventory for LCNRV if the loss method is used. flist debit entry before credit entry. Credit occount titles are audomatically indented when the amount is entered. Do not indent manualye if no entry is required, select "No Entry" for the account tieles and enter o for the anounta) Culver Company began operations on January 1, 2024, adopting the conventional retail inventory system. None of the company's merchandise was marked down in 2024 and, because there was no beginning inventory, its ending inventory for 2024 of $31,476 would have been the same under either the conventional retail system or the LIFO retail system. On December 31, 2025, the store management considers adopting the LIFO retail system and desires to know how the December 31 , 2025, inventory would appear under both systems. All pertinent data regarding purchases, sales, markups, and markdowns are shown below. There has been no change in the price level. Determine the cost of the 2025 ending inventory under both (a) the conventional retail method and (b) the LIFO retail method. (Round ratios for computational purposes to 2 decimal place, e.g. 78.72% and final answers to 0 decimal places, e.g. 28.987.)

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