balance of inventory account as of December 31 of the current year of Mark Company amounted to P480,000. The replacement cost of the raw materials is P450,000. Assume that the finished products in which raw materials will be incorporated are expected to be sold at or above cost, a.compute for the loss on inventory writedown. b.Refer to given above but assume instead that the finished products in which raw materials will be incorporated are expected to be sold at lower than cost. Compute for loss on inventory writedown. Your answer

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