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At december 31 2013 the inventory was 353496 at cost and


Question - Kumar Inc. uses a perpetual inventory system. At January 1, 2013, inventory was $264,504 at both cost and market value. At December 31, 2013, the inventory was $353,496 at cost and $332,484 at market value. Prepare the necessary December 31 entry under.

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Accounting Basics: At december 31 2013 the inventory was 353496 at cost and
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