Question: For interim financial reporting, an inventory loss from a temporary market decline in the first quarter which can reasonably be expected to be restored in

For interim financial reporting, an inventory loss from a temporary market decline in the first quarter which can reasonably be expected to be restored in the fourth quarter

a. Need not be recognized as a loss in the first quarter

b. Should be recognized as a loss proportionately in each of the first, second, and third quarters

c. Should be recognized as a loss proportionately in each of the first, second, third, and fourth quarters

d. Should be recognized as a loss in the first quarter

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