Re Company prepared the following analysis of its year-end inventory at June 30th:
Determine the lower of cost or market value for each product in Re Company's inventory and prepare the journal entry needed at year-end to value the inventory at LCM.

Question

Re Company prepared the following analysis of its year-end inventory at June 30th:
  Determine the lower of cost or market value for each product in Re Company's inventory and prepare the journal entry needed at year-end to value the inventory at LCM.

Quizplus · Accepted Answer

The Answer of Re Company prepared the following analysis of its year-end inventory at June 30th:
  Determine the lower of cost or market value for each product in Re Company's inventory and prepare the journal entry needed at year-end to value the inventory at LCM.

Re Company Prepared the Following Analysis of Its Year-End Inventory