Question: Abel Company must write down its inventory by $ 3 0 , 0 0 0 to the net realizable value of $ 4 5 0

Abel Company must write down its inventory by $30,000 to the net realizable value of $450,000 at December 31,2022. What is the effect of this write-down on the year 2022 financial statements?
Multiple Choice
Decrease accounts payable.
Increase pretax income.
Decrease cost of goods sold.
Decrease ending inventory on the balance sheet.

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