Which 3 statements are true about revaluing inventory? (Select all that apply)

• A) An inventory valuation adjustment can be created.

• B) An Obsolescence inventory asset account should be created.

• C) Best practice is to use a Clearing bank type of account to record entries.

• D) Use an inventory adjustment to adjust the quantity (and value) down to zero.

• E) Use a zero-dollar purchase transaction to revalue the inventory.