Johnson & Johnson, a leading pharmaceutical and consumer goods company, applies the Conservatism Principle in its financial reporting practices. In 2023, the company identified a decline in the market value of its inventory due to technological obsolescence, amounting to $50 million. However, management believes that the market value decline is temporary and expects the inventory to recover its value within the next fiscal year. Discuss how Johnson & Johnson should account for this inventory impairment under the Conservatism Principle. Evaluate the impact on the company's balance sheet, income statement, and financial ratios for the fiscal year 2023.