ABC. Inc. is computing its inventory on December 31, 2019. The following information relates to the five major inventory items regularly stocked for resale: Item Quantity on Hand A B D E 100 150 25 300 700 Ending Inventory, December 31, 2019 Unit Cost when Acquired (LIFO) $49 $56 $120 $70 $19 Net Realizable Value (Market) on December 31, 2019 $35 $52 $80 $62 $20 Using the lower of cost or net realizable value, compute the total inventory valuation on December 31, 2019. What will be the effect of the write-down of inventory to lower of cost or market on the cost of goods sold for the year ended December 31, 2019? (Hint: Fill in "Increase" or "Decrease"first, then fill in the number) by