Sam's Company follows the Cost of Goods Sold Method when recording the lower of cost or net realizable value. Assume his inventory has a cost of $50,000 and his inventory has a net realizable value of $30,000 the appropriate journal entry to record this write down of the inventory balance would be? Dr. Loss Due to Decline in Inventory to NVR $20,000; Cr. Inventory $20,000 Dr. Cost of Goods Sold: Cr. Inventory $20,000 None of the above