Question: Cullumber Inc. has selected specific identification as its inventory costing method. At December 31, 2025, it has the following information for its finished goods: If

 Cullumber Inc. has selected specific identification as its inventory costing method.

Cullumber Inc. has selected specific identification as its inventory costing method. At December 31, 2025, it has the following information for its finished goods: If Cullumber uses the loss method to record inventory write-downs, it will make a journal entry debiting Cost of Goods Sold for $672. crediting Inventory for $3360. debiting Inventory Loss for $2100. No journal entry will be made

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