Question: When net realizable value is lower than cost, and the loss method applying the lower-of-cost-and-net-realizable approach of recording the write-down is used, what account is

When net realizable value is lower than cost, and the loss

When net realizable value is lower than cost, and the loss method applying the lower-of-cost-and-net-realizable approach of recording the write-down is used, what account is credited? Aloss account. Inventory. Allowance account. Cost of Goods Sold

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