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Author Question: If the replacement cost of inventory is less than its historical cost, the company will write down ... (Read 47 times)

waynest

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on: Feb 18, 2020
If the replacement cost of inventory is less than its historical cost, the company will write down the inventory by:
◦ making a note in the financial statements only.
◦ debiting Cost of Goods Sold and crediting Inventory.
◦ debiting Inventory and crediting Cost of Goods Sold.
◦ debit Inventory for replacement cost, credit Inventory for historical cost.
Financial Accounting ¦ Kemp, Waybright ¦ 5th Edition
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Marked as best answer by waynest on Feb 18, 2020

miss_1456@hotmail.com

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Reply #1 on: Feb 18, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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waynest

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Reply 2 on: Feb 18, 2020
Great answer, keep it coming :)

Chelseyj.hasty

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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