Given the following inventory information, prepare the journal entry (if needed) to adjust the inventory...
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Accounting
Given the following inventory information, prepare the journal entry (if needed) to adjust the inventory for LCNRV of the loss method is used.
Replacement value $16500, cost $15500, expected selling price $15700, normal profit margin $12%, Selling costs 20% of expected selling price.
Help me please!
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