Need help with this accounting question answer do fast Sandork, Inc., has 200 units of inventory which are currently pricedat $4.90 per unit at the market. Originally this inventory cost $5.50per unit from an order of 400. Sandork, Inc., should take whatfollowing steps?a. Dr. Loss on inventory write-down, 120; Cr. Inventory, 120.b. Dr. Loss on inventory write-down, 240; Cr. Inventory, 240.c. Dr. Inventory, 240; Cr. Loss on inventory write-down, 240.d. Dr. Inventory, 120; Cr. Loss on inventory write-down, 120.e. Make no entry.

Explanation: In the given case, it is given that the entity had 400 units in inventory that costed…

Answered: Sandork, Inc., has 200 units of…

SWFT Individual Income Taxes

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Chapter18: Accounting Periods And Methods

Section: Chapter Questions

Problem 67P

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Sandork, Inc., has 200 units of inventory which are currently priced at $4.90 per unit at the market. Originally this inventory cost $5.50 per unit from an order of 400. Sandork, Inc., should take what following steps? a. Dr. Loss on inventory write-down, 120; Cr. Inventory, 120.1 b. Dr. Loss on inventory write-down, 240; Cr. Inventory, 240.1 c. Dr. Inventory, 240; Cr. Loss on inventory write-down, 240.1 d. Dr. Inventory, 120; Cr. Loss on inventory write-down, 120.1 e. Make no entry.
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