Question: For interim financial reporting, an inventory loss from a market decline in the second quarter that is not expected to be restored in the fiscal

For interim financial reporting, an inventory loss from a market decline in the second quarter that is not expected to be restored in the fiscal year should be recognized as a loss

a. In the fourth quarter.

b. Proportionately in each of the second, third, and fourth quarters.

c. Proportionately in each of the first, second, third, and fourth quarters.

d. In the second quarter.

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