Use the Following Information for the Following Questions:
the Following $\$ 585,000$

question 73

Multiple Choice

Use the following information for the following questions:
The following information is available for Anselmo Corporation's inventories:
December 31, 2019:
At cost: $\$ 585,000$
At lower of cost and net realizable value (NRV) : $\$ 525,000$
December 31, 2020:
At cost: $\$780,000$
At lower of cost and net realizable value (NRV) : $740,000 Anselmo uses a periodic inventory system and an allowance account to adjust its inventory from cost to the lower of cost and NRV.
-Anselmo's 2020 journal entry to adjust its inventory from cost to the lower of cost and net realizable value (NRV) will include a

• A) debit of $40,000 to Loss on Inventory Due to Decline in NRV.
• B) debit of $40,000 to Allowance to Reduce Inventory to NRV.
• C) debit of $20,000 to Allowance to Reduce Inventory to NRV.
• D) credit of $40,000 to Recovery of Loss Due to Decline in Inventory.

Understand the influence of cognitive and experiential factors on emotional and moral decision-making.

Identify gender differences in moral development and cognition.

Acknowledge the effect of physical and mental health practices on well-being.

Comprehend the societal and cultural influences on moral reasoning and ethical decision-making.

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Definitions:

Wage Differences

Variations in pay for jobs that are based on factors like location, skill level, experience, and industry demand.

Discrimination

The unjust or prejudicial treatment of different categories of people, especially on the grounds of race, age, sex, or disability.

Surplus Of Labor

A situation where the supply of workers exceeds the demand for labor, often leading to unemployment or underemployment.

Minimum Wage

The lowest legally permissible wage that employers can pay their workers, established by government laws.