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Problem 18 At the end of the first quarter of year 2, the candle company's Controller reviews the following information: Historical cost of inventory $

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Problem 18 At the end of the first quarter of year 2, the candle company's Controller reviews the following information: Historical cost of inventory $ 147,950.00 Cost of completing WIP inventory 22,000.00 Estimated cost to sell inventory 5,000.00 Estimated selling price of inventory 190,000.00 Based on IAS 2, should the candle company make an adjustment to the Inventory account

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