Mariah company has inventory at the end of the year with a historical cost of $95,000. mariah company uses the perpetual inventory system. under the lcm rule, the current replacement cost is $75,600. under u. s. gaap, the journal entry to record the write−down to lcm will: a. debit cost of goods sold for $19,400 and credit purchases for $19,400. b. debit cost of goods sold for $19,400 and credit inventory for $19,400. c. debit purchases for $19,400 and credit cost of goods sold for $19,400. d. debit inventory for $19,400 and credit cost of goods sold for $19,400.