Question: When is it justifiable to write down inventory below historical cost? To establish a reserve against which future declines can be written off When the

When is it justifiable to write down inventory below historical cost?
To establish a reserve against which future declines can be written off
When the revenue-producing ability of the inventory drops below its historical cost
When the cost of the inventory is lower than its replacement cost
When the FIFO inventory accounting method is used in a period of declining prices
When is it justifiable to write down inventory below historical cost?

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