Lower of Cost or Net Realizable Value Rule 

In the allowance method, i would have expected the adj of 609 to go to other income and expenses not the COGS line. Therefore, i suppose there will be a difference in the P&L line for both methods, One will hit COGS so gross profit will be impacted, and with the other one, impact will be below GP line

Excellent explanation thanks

Well detailed biginner friendly explanation 🤙

Is it right if I'm crediting Recovery of Inventory Loss instead of Gain or Other Revenue?