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The entry to reduce inventory to lower of cost or market in a periodic inventory system using the direct method is part of the entry
The entry to reduce inventory to lower of cost or market in a periodic inventory system using the direct method
is part of the entry to record ending inventory; no separate entry is required.
requires a separate entry that credits Loss Due to Market Valuation.
requires a separate entry that debits Allowance for Doubtful Accounts.
none of these
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