Anderson Trade Marthas recently had lackluster sales. The rate of inventory turnover has dropped, and the merchandises gathering dust. Al the same time competition has forced Anderson's suppers to lower the prices that Anderson will pay when it replaces its inventory. It is now December 31, 2018 and the netreat value of Anderson's ending inventory is $55.000 below what me company actually paid for the goods which was 205,000. Before any adjustments at the end of the period, the cost of Goods Sold account has a balance of $120.000 Read the requirements Requirement a. What accounting action should Anderson take in this won? Anderson should apply the to ne realizable value to account for inventories. The netreat value of ending inventory Andersons actual costs Anderson must write the inventory Requirement b. Give any journal entry required. (Record debts first, then cres. Exclude explanations from any journal entries. I no entry is required, select "No only required in the first call in the "Account column and leave all other cells blank.) Anderson Trade Marthas recently had lackluster sales. The rate of inventory burnover has dropped, and the merchandise is gathering dust. At the same time competition has forced Anderson's suppliers to lower the prices that Anderson will pay when it replaces its inventory. It is now December 31, 2018 and the netralizabile value of Anderson's ending inventory is $66.000 below what the company actually paid for the goods which was $205.000 Before any adjustments at the end of the period, the cost of Goods Sold account has a balance of 5820.000 Head the requirements Date Requirement d. Al what amount should the company report cost of Goods Sold on the income statement? Anderson should report cost of Goods Sold on the income statement Requiremente. Dcs the principle or concept that is most relevant to this the reason to account for inventory using direct accountants to report inventory at the most and Choose from any sorrer any number in the roulelds and then continue to the next