Q7 In which of the following circumstances would an inventory write-down be recognized or reversed? Select the correct options, and then click Submit. When inventory is damaged or has become obsolete and can no longer be used When prices of specific raw materials have declined but the prices of the related finished product remain above its cost to complete When the selling price less the selling costs of a finished product (NRV) is less than its carrying value When, at year-end, a company anticipates that market prices will recover for inventory that is currently carried at net realizable value None of the above Sybmit