Answered: The amount of any inventory writedown…

The amount of any inventory writedown of inventory to met realizable value is A. Recognized as component of cost of goods sold B. Recognized as other expenses

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

The amount of any inventory writedown of inventory to met realizable value is

A. Recognized as component of cost of goods sold
B. Recognized as other expenses
C. Recognized as operating expenses
D. Deferred until the related inventory is sold

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