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Record any necessary adjusting entry for inventory.Determine the impact of the adjusting entry in the financialstatements Down Home Furnishings reports inventory using the lower of

Record any necessary adjusting entry for inventory.Determine the impact of the adjusting entry in the financialstatements Down Home Furnishings reports inventory using the lower of cost and net realizable value (NRV). Below is information related to its year-end inventory. Required: 1. Calculate the total recorded cost o 2 answers

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