Multiple Select Question

Select all that apply

Determine which of the following statements are correct regarding damaged or obsolete goods. $($Check all that apply.$)$

Net realizable value of damaged goods is determined solely by the sales price of the good.

If damaged goods can be sold at a reduced price, they are included in inventory.

Damaged goods are included in inventory at their net realizable value.

Damaged goods are not included in inventory if they cannot be sold.

A loss in value is reported in the period when goods are damaged or become obsolete.