in the carrying amount of an asset exceeds its recoverable amount D. The amount by which the recoverable amount of an asset exceeds its written down value 4. Wester PLC uses periodic inventory s stem.The following balances were taken from its accounting record Br.400,000 Merch ndise inventory balance is o. March 1,2023 Merch indis. i ventory balance as o. Murch 31.2023 Purchase durin the neriod Br.510,000 Purchase is cont Br.10,000 The cos or mer handise sold is Bi.5,000 A. Br.250.000 B Br.760,000 c Br.750,000 D. Br.745,000 __ 5. Lower-of-cost -or-net-realizabi as it applies to inventory is best described as: A. The method of determining cost of goods sold B. The assumption to determine inventory flow C. The reporting of a loss when there is a decrease in future utility below the original cost D The change in inventory value to the net realizable value __ 6. Definition of fair value focuses on __ because they are a primary subjec t of accounting measurement. A. Assets and liabilities C. Observable and unobservable inputs B. Rights and obligations D. Entry price and exit price __ 7. Fair value measureme nts are categorized into a three-level hierarchy, based on the type of inputs to the valuation techniq es used What innuts are required for a fair value meas urement to be classified a s level 3 inputs?

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