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Solutions must be in good accounting form Painter Inc. sells several types of paint. Due to the low demand, it would be testing its inventory

image text in transcribed Solutions must be in good accounting form

Painter Inc. sells several types of paint. Due to the low demand, it would be testing its inventory for impairment. It gathered the following information: No. Brand Unit Selling Price Ave. Unit Type Size Units Unit Cost (Updated) Cost to Sell 001 A Water-based 4-liter 10 P 350 P 400 P 70 002 A Water-based 16-liter 20 1,150 1,300 250 003 A Acrylic 16-liter 20 1,200 1,700 300 004 B Water-based 16-liter 5 1,075 1,250 200 005 B Acrylic 4-liter 15 400 600 70 006 B Acrylic 16-liter 10 1,250 2,000 250 How much should be reported as loss from inventory write-down

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