QUESTION 22 Which of the following accounts is credited in the loss method of writing-down of inventory to its net realizable value if no allowance account is used A. Allowance to Reduce Inventory to NRV B.Loss Due to Decline of Inventory to NRV Cost of Goods Sold D. Inventory QUESTION 23 The use of a Purchase Discounts Lost account implies that the recorded cost of a purchased inventory item is its A involce price B. invoice price plus the purchase discount lost C. Invoice price less the purchase discount taken D. Invoice price less the purchase discount allowable whether taken or not