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  3. 3) the following information is taken from bellows

3) The following information is taken from Bellows Corporation's inventory records ...

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Accounting

3) The following information is taken from Bellows Corporation's inventory records
Women's Apparel Men's Apparel Children's Apparel
Selling price $ 173,000 $ 144,000 $ 126,000
Selling costs 12,000 14,000 10,000
Cost 112,000 136,000 94,000
Replacement cost 121,000 132,000 113,000
Normal profit margin is 21% of the selling price.
a) What is the correct inventory value for each product using the lower of cost or market.
b) Journalize the required adjusting entry.

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