Suppose that has a of that was originally valued at $$4,000,000$ but due to a drop in the price of oil as seen on the Chicago Mercantile Exchange inventory is now valued at $$3,750,000$ How would this be recognized on the Income statement $?$ No inventory has been sold so no change would be recorded The change in fair value would be recorded immediately and income would be increased The change in fair value would be recorded immediately and income would be decreased ODThe change in value would be recorded immediately and assets would be decreased but there would be no change to the income statement until the inventory sold