An inventory loss from market decline of $1,200,000 occurred in April 2014.Discus Company recorded this loss in April 2014 after its March 31,2014,quarterly report was issued.None of this loss was recovered by the end of the year.How should this loss be reflected in the quarterly income statements of Discus Company?

Question

An inventory loss from market decline of $1,200,000 occurred in April 2014.Discus Company recorded this loss in April 2014 after its March 31,2014,quarterly report was issued.None of this loss was recovered by the end of the year.How should this loss be reflected in the quarterly income statements of Discus Company?
An inventory loss from market decline of $1,200,000 occurred in April 2014.Discus Company recorded this loss in April 2014 after its March 31,2014,quarterly report was issued.None of this loss was recovered by the end of the year.How should this loss be reflected in the quarterly income statements of Discus Company?

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The Answer of An inventory loss from market decline of $1,200,000 occurred in April 2014.Discus Company recorded this loss in April 2014 after its March 31,2014,quarterly report was issued.None of this loss was recovered by the end of the year.How should this loss be reflected in the quarterly income statements of Discus Company?

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