An inventory loss from market decline of $1,200,000 occurred in May 2015, after its March 31, 2015 quarterly report was issued. None of this loss was recovered by the end of the year. How should this loss be reflected in the company's quarterly income statements?

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The Answer of An inventory loss from market decline of $1,200,000 occurred in May 2015, after its March 31, 2015 quarterly report was issued. None of this loss was recovered by the end of the year. How should this loss be reflected in the company's quarterly income statements?

An Inventory Loss from Market Decline of $1,200,000 Occurred in May