Using the data below record the entries for the decline in net realizable value for the Inventory under the following methods and systems: Beginning Inventory at lower of Cost or NRV Purchases at Cost Ending Inventory At Cost Ending Inventory at NRV Sales $ 211,000$ 147,7005 208,000S 184,000 620,000 7.) Applying Lower of Cost or Net Realizable Value using the Cost of Goods Sold Method is: A. Always misleading to the financial statement reader. B. Can be misleading to the financial statement reader if the decline in value is not a normal recurring write but is rather material and/or unusual in nature. C. Buries the loss in the operating section of the income statement. D. Clearly discloses the loss as a line item on the income statement for the reader of the financial statements to see. E. Both B and C 8.) Cost of Goods Sold is a account and is increased with a A. Temporary / nominal (closes out at the end of the year) B. Real/permanent does not close out at the end of the year) C. Debit D. Credit E. Both A and D F. Both A and C G. Both B and C H. Both B and D