Question: Flin Flon Limited sells two products whose prices are sensitive to price fluctuations. The following inventory information is available for these products at March

Flin Flon Limited sells two products whose prices are sensitive to price fluctuations. The following inventory information is available for these products at March 31, 2021: Product Unit Amount Unit Price (Cost) Unit Price (NRV) A 60 $12 $10 B 35 $21 $23 Which of the following statements are true? Only Product B will require a write down Product A and B will both require a write down Neither Product A or B will require a write down Only Product A will require a write down A write down should occur at the time the product is sold and revenue is recognized
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