Applying the Lower of Cost or Market rule to total inventory will always result in an inventory value higher than or equal to the inventory value from applying to Lower of Cost or Market rule to individual inventory items lower than or equal to the inventory value from applying to Lower of Cost or Market rule to individual inventory items equal to the inventory value from applying to Lower of Cost or Market rule to individual inventory items Cannot be determined from the information given Question 21 4 pts Under the Lower of Cost or Market method, writing down inventory under the direct method involves: O a debit to COGS O a debit to Inventory a debit to Loss on Writedown of Inventory a debit to Allowance for Inventory