Inventory San Corp. conducts an assessment of the inventory held at the end of 2022. The person in charge of the San Corp. warehouse reports some information from inventory, namely from inventory Q, R, and S The cost used to sell each inventory is $30,000 Instructions: Prepare the journal entries necessary to recognize an impairment loss on inventories, if the company uses: a. Loss method with allowance (allowance balance at the beginning of the period is $10,000)
Inventory San Corp. conducts an assessment of the inventory held at the end of 2022. The person in charge of the San Corp. warehouse reports some information from inventory, namely from inventory Q, R, and S The cost used to sell each inventory is $30,000 Instructions: Prepare the journal entries necessary to recognize an impairment loss on inventories, if the company uses: a. Loss method with allowance (allowance balance at the beginning of the period is $10,000)
Chapter5: Operating Activities: Purchases And Cash Payments
Section: Chapter Questions
Problem 3.9C
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Chapter : Inventory
San Corp. conducts an assessment of the inventory held at the end of 2022. The person in charge of the San Corp. warehouse reports some information from inventory, namely from inventory Q, R, and S
The cost used to sell each inventory is $30,000
Instructions:
Prepare the journal entries necessary to recognize an impairment loss on inventories, if the company uses:
a. Loss method with allowance (allowance balance at the beginning of the period is $10,000)!
Transcribed Image Text:Product
Q
R
S
Carrying Amount
250.000
300.000
125.000
Selling Price
300.000
320.000
140.000
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