Chooco Corp purchased inventory for $8,399. Later, the market value of the inventory was determined to be $7,373. To journalize the recognition of Lower of Cost or Market, the entry would be a) Debit Merchandise Inventory 1,026 and Credit Cost of Goods Sold 1,026 b) Debit Losses on Merchandise 1,026 and Credit Merchandise Inventory 1,026 Oc) Debit Merchandise Inventory 1,026 and Credit Inventory Loss 1,026 d) Debit Cost of Goods Sold 1,026 and Credit Merchandise Inventory 1,026 Question 3 (10 points) Full-Love Corp has 50,000 shares of common stock outstanding with a par value of $0.50 and a market value of $10.50. Its Board of Directors declares a 20% stock dividend. By what dollar amount should one credit Common Stock Distributable? D View hint for Question 3 X DEC ... 16 hulu