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  3. Study Set
    Fundamental Accounting Principles
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    Exam 6: Inventory Costing and Valuation
  5. Question
    Would an Entry Be Needed If the Calculation of LCNRV
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Would an Entry Be Needed If the Calculation of LCNRV

Question 32

Question 32

Essay

Would an entry be needed if the calculation of LCNRV was made on a group basis? If so, make the entry. If not, state why.

Correct Answer:

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On a group basis, no entry wou...

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