2 Not yet answered. Marked out of 1.00 Flag question Grandi plc is a retailer of fashionable sports clothing. The trial balance at the end of its financial year shows closing inventory at a cost of 100 000. 1. If the net realisable value of the inventory is 80 000, the decrease will be recognised in cost of sales and the inventory will be reported on the statement of financial position at 80 000. 2. If the net realisable value of the inventory is 80 000, the decrease will be recognised in other comprehensive income and the inventory will be reported on the statement of financial position at 80 000. 3. If the net realisable value of the inventory is 120 000, the increase will be recognised in other comprehensive income and the inventory will be reported on the statement of financial position at 120 000. Which of the three statements above is/are correct? Select one: 0 O a. 2 only is correct b. 3 only is correct c. 1 and 3 are correct d. 1 only is correct e. 2 and 3 are correct