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    Mar 26, 2012, 09:59 AM
    Net Realizable Value FIFO
    Ending inventory 12/31/11 1263 units @ $782 ea. For a total of 987,666
    Net Realizable Value $775 ea.
    Net Realizable Value less normal margin $745 ea.
    There's a vendor invoice dated 1/5/12 for 500 units at $750 ea. goods received 1/7/12

    What's the adjusting entry for the inventory ending 12/31/11?

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