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Using the information from the above question, determine the lower of cost or market value for Huston Company's inventory if the lower of cost or

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Using the information from the above question, determine the "lower of cost or market value" for Huston Company's inventory if the lower of cost or market rule is applied to the total inventory. Show all work Prepare the necessary journal entry to record a $200 inventory write-down to market value using the allowance (indirect) method. Edit View Insert Format Tools Table 12pt Paragranh T 11

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