Mariah Company has inventory at the end of the year with a historical cost of . Mariah Company uses the perpetual inventory system. Under the LCM rule, the current replacement cost is . The company uses LIFO. Under U. S. GAAP, the journal entry to record the writedown to LCM will:

The numbers are missing, but the journal entries should follow the following format. Under GAAP, when you are writing down inventory, you must increase cost of goods sold and decrease inventory account:

Dr Cost of goods sold XX

    Cr Inventory XX

Any changes in inventory levels are written off against cost of goods sold, since it increases a company's expenses while it decreases its assets.

you can lose ranking 2 ways.

1) you don't have enough points due to you expending them by asking questions/your answers are deleted.

2) your brainliest's expired. this means that brainliests, once they exceed the 30 day limit, expires. this is to ensure that you continue to contribute into the community at a constant rank if you want to continue to have/exceed the rank you have right now.

if you go to profile, and click "show more information" located on the bottom left of the box with your information (on top of the questions answered, questions asked, and friends), you will be given the following information (example):

member since : 02/13/2017, 18: 11

questions answered: 9741

questions asked: 162

no. of brainliest answers: 1575

brainliest answers in last 30 days: 10

warnings: 0 view

questions/answers reported: 2637

questions/answers incorrectly reported: 64

look at the "brainliest answers in the last 30 days". this is the one that will affect your rank other than your points. again, once your brainliest expires (was earned 31+ days ago), it will not be counted.

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answer assertive;