D What condition, if any, is NOT necessary in order to use the retail method to provide inventory results? Retailers must keep a record of total costs of products sold for the period. O Retailers must keep a record of total costs and retail value of goods purchased. Retailers must keep a record of total costs and retail value of goods available for sale. Retailers must keep a record of sales for the period. O. All of the above are necessary in order to use the retail inventory method. Question 13 Why are inventories stated at lower-of-cost and net realizable Value? O To report a loss when there is a decrease in the future utility. O To keep record of the market value of the inventory. O To report a loss when there is a decrease in the future utility below the original cost. O To permit future profits to be recognized. 2 pts