Why is the Cost of Goods Sold account debited in the journal entry to record a decline
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Why is the Cost of Goods Sold account debited in the journal entry to record a decline in inventory value under the lower of cost and net realizable value rule even though no merchandise has been sold?
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Related Book For 
Financial Accounting Tools for Business Decision Making
ISBN: 978-1118644942
6th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
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