le brdInary coursc of business 45. If a unit of inventory has declined in value below original cost, but the market valuac exceeds net rcalizable valuc, the amount to be used for purposes of inventory valustion 15 A) market value. B) net realizable value. C) net realizable value less a normal profit margin D original cost. 46. During periods of rising prices, a perpetunal inventory system would result in the same ollar amount of ending inventory as a periodic inventory system under which of the following inventory cost flow methods? A) B) C) D) EIFO LIFO No Yes No Yes Yes No No Yes 47. The failure to record a purchase of merchandise on account even though the goods are properly included in the physical inventory results in A) an understatement of liabilities and an overstatement of owners' equity. B) an overstatement of assets and net income. C) an understatement of assets and net income. D) an understatement of cost of goods sold and liabilities and an overstatement of assets