Rios, Inc. uses International Financial Reporting Standards (IFRS). In 2021, Rios, Inc. experienced a decline in the value of its inventory resulting in a write-down of its inventory from 240,000 to 200,000. The company used the loss method in 2021 to record the necessary adjustment and uses an allowance account to reduce inventory to NRV. In 2022, market conditions have improved dramatically and Rios, Inc.'s inventory increases to an NRV of 216,000. Which of the following will Rios, Inc. record in 2022 ? A credit to Allowance to Reduce Inventory to NRV of 24,000 A debit to Recovery of Inventory Loss for 16,000 A debit to Allowance to Reduce Inventory to NRV of 16,000 A credit to Recovery of Inventory Loss for 24,000