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Calculate the NRV of these

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Reference no: EM132914419

Problem - Part of the inventory are obsolete: 100 especially for an event branded pairs of socks will have to be sold to the retailers for €11 each. The original acquisition cost was €20/pair. Necessary selling costs amount to €1/pair. Calculate the NRV of these and decide, whether you need an adjusting entry or not. Justify your choice, also by showing your calculations!

Reference no: EM132914419

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