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Question 1 of 1 0 View Policies Current Attempt in Progress When is it justifiable to write down inventory below historical cost? To establish a
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When is it justifiable to write down inventory below historical cost?
To establish a reserve against which future declines can be written off
When the FIFO inventory accourfing method is used in a period of declining prices
When the cost of the inventory is lower than its replacement cost
When the revenueproducing ability of the inventory drops below its historical cost
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