A Company's Ending Inventory Is $450,000 Using the Perpetual FIFO $$\begin{array} { | l | r | r | } \hline \quad\quad\quad&\quad&\quad \\\hline \\\hline\end{array}$$

question 75

Essay

A company's ending inventory is $450,000 using the perpetual FIFO inventory costing method.Replacement cost for the ending inventory is $420,000.Prepare the journal entry to adjust inventory.
$$\begin{array} { | l | r | r | } \hline \quad\quad\quad&\quad&\quad \\\hline \\\hline\end{array}$$

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Definitions:

Tone Of Voice

The vocal quality, pitch, and emotion used during conversation that affects the meaning of the message.

Tinnitus

A common condition involving the perception of noise or ringing in the ears, which is not caused by an external sound.

Subjective

Relating to or denoting a perspective which is based on personal feelings, tastes, or opinions, rather than external facts or evidence.

Objective

An aim or goal that is intended to be achieved, often used in research, project planning, and personal development.