At the end of a reporting period, gamble corporation determines that its ending inventory has a cost of $300,000 and a market value of $230,000. what would be the effect(s) of the adjustment to write down inventory to market value? -decrease total assets.-decrease net income.-increase retained earnings.-decrease total assets and net income.

Krier industries has just completed its sales forecasts and its marketing department estimates that the company will sell 43,800 units during the upcoming year. in the past, management has maintained inventories of finished goods at approximately 3 months' sales. however, the estimated inventory at the start of the year of the budget period is only 7,300 units. sales occur evenly throughout the year. what is the estimated production level (units) for the first month of the upcoming budget year?