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. 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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