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a. Interim reporting
b. Year-end reporting
c.' Interim reporting and year-end reporting
d. Neither interim reporting nor year-end reporting
6. Due to a decline in market price in the second quarter,
an entity incurred an inventory loss: The market price is
expected to return to previous level by the end of the
year. At the end of the year, the decline had not
reversed. should the loss be reported in the
interim income statement?