Question: Please help me Question 19 If the net realizable value of a merchandising company's inventory is higher than its cost no actions should be taken.

Please help me

Question 19

If the net realizable value of a merchandising company's inventory is higher than its cost

no actions should be taken.

the company's ending owner's equity should be increased to reflect this.

the inventory accounts should be debited and a gain should be reported.

the inventory account should be debited and cost of goods sold credited.

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