obleme L a rraon for probe 7-43 LCM Neca determines that that only cost 8-16,300 de determine that the loss is not mat materialet item on its income statem kes entry but disclose the lo ke no entry and make no disco ke an entry to reduce retained kan entry to increase cost of goods Farly in the market value of Neos 47.00. If the original credit to w to the latory account. Neco should Neo's inventory weet ognize a $4,000 min regine a $2.500 gain. entry but disclose the loss in a note sancial statements maken entry and make no disclosure