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What correct amount of inventory write down to be reported

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Problem 1: Entity A's inventories on December 31 20X1 have a cost of 100,000 and the net realisable value of 80,000. Accordingly, Entity A recognized a write down of inventories of 20,000. Shortly after December 31 20X1, but before the financial statements were authorized for issue, the inventories were sold for a net sales proceeds of 70,000. The correct amount of inventory write down to be reported in entity A's December 3120 X One Financial statements is

a. 20,000

b. 0

c. 30,000

d. any of these

Reference no: EM132817115

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