The Bristol Company Was Recently Required to Record an Inventory

question 141

Multiple Choice

The Bristol Company was recently required to record an inventory write-down of $5,215 because the market value of its inventory was less than cost. Assuming the amount of the write-down is not material (the total inventory was over $9,750,000) , which of the following is the appropriate journal entry?

• A)Option A
• B)Option B
• C)Option C
• D)Option D

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Definitions:

Anxiety Disorder

A mental health disorder characterized by feelings of worry, anxiety, or fear that are strong enough to interfere with one's daily activities.

Humiliated

A feeling of shame or embarrassment, typically as a result of one's dignity being wounded or self-respect lowered.

Embarrassed

A feeling of self-consciousness, shame, or awkwardness that arises when one perceives they have acted in a socially unacceptable manner or fallen short of social standards.

Specific Phobia

An anxiety disorder characterized by an irrational fear of, and desire to avoid, a specific object, situation, or activity.