Question: When a company needs to record Net Realizable value instead of cost for inventory, which of the following journal entries would be acceptable? Group of

When a company needs to record Net Realizable value instead of cost for inventory, which of the following journal entries would be acceptable?

Group of answer choices

Dr Loss due to decline of inventory to NRV CR Inventory

DR Cost of Goods Sold CR Inventory

Dr Loss due to decline of inventory to NRV CR Allowance to reduce inventory to NRV

All of the above

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