Star Co. has the following inventory items at 12-31-19.
Determine the inventory by the lower of cost or market method, applying the method to each item.
Prepare the journal entry to adjust inventory to LCM using the Cost of goods sold method.
			Item A	Item B	Item C
	Historic cost		800	60	90
	Selling price		950	100	130
	Cost to distribute		30	20	30
	Replacement cost		780	65	70
	Normal profit margin		180	30	20

Date

Debit

Credit