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At the end of a reporting period, a company determines that its ending inventory has a net realizable value below cost. What would be the

At the end of a reporting period, a company determines that its ending inventory has a net realizable value below cost. What would be the effect(s) of the adjusting entry to record inventory at net realizable value? Multiple Choice Decrease total assets. Increase total expenses. Decrease retained earnings. All of the other answers are correct.

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