Garrett Company uses the perpetual inventory system. The company's records showed a book balance of $18,000 in the Merchandise Inventory account, and a physical count finds only $16,250 of inventory. Which of the following represents the financial statement effect of writing-down the inventory? 
Definitions:
Common Stock
A type of equity security that represents ownership in a corporation, usually with voting rights.
Securities Purchased
Financial instruments like stocks, bonds, or mutual funds that have been bought and are now owned by the purchaser.
Stock Investments-Run
Stock investments-run refers to the active management or trading of stock investments over a certain period to achieve specific financial goals.
Common Stock
Equity securities representing ownership shares in a corporation, giving holders voting rights and a share in the company’s profits through dividends.
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