OP Anderson Trade Mart has recently had lackluster sales. The rate of inventory tumover has dropped, and the merchandise is gathering dust At the same time competition has forced Anderson's suppliers to lower the prices that Anderson will pay when it replaces its inventory it is now December 31, 2018, and the not realizable value of Anderson's ending inventory is $55.000 below what the company actually paid for the goods, which was $206,000 Before any adjustments at the end of the period, the Cost of Goods Sold account has a balance of $820.000 Read the requirements Requirement a. What accounting action should Anderson take in this situation? Anderson should apply the cost, so Anderson must write the inventory to account for inventories The net realizable value of ending inventory is W to net realizate value Anderson's actual Requirement b. Give any oumal entry required (Record debts first then credits Exclude explanations from any journal entries i no entry is required, select "No entry required in the first coll in the "Accounts" column and leave all other colls blank> Journal Entry Accounts Date Debit Credit Dec 31 Requirement c. At what amount should the company report Inventory on the balance sheet? Anderson should report Inventory on the balance sheet at S Journal Entry Date Accounts Debit Credit Doc 31 Requirement c. At what amount should the company report Inventory on the balance sheet? Anderson should report Inventory on the balance sheet at $ Requirement d. At what amount should the company report Cost of Goods Sold on the income statement? Anderson should report Cost of Goods Sold on the income statement at 9 Requiremente. Discuss the accounting principle or concept that is most relevant to this situation directs accountants to Mis the reason to account for mentory using report inventory at the most realistic and transparent amount Choose from any list or enter any number in the input fields and then continue to the next