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Sandra company had 200 units of inventory on hand at the end of the year. These were recorded at a cost of $12 each use

Sandra company had 200 units of inventory on hand at the end of the year. These were recorded at a cost of $12 each use in the last in first out LIFO method. The current replacement cost is $10 per unit. The selling price charged by Sandra company for each finished product is $15. In order to record record the adjusting entry needed on the lower of cost or market roll the cost of good sold I will be

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