7.3 The following information is available from the records of a Company inventory at the end of the period Name Quantity (units) Cost (per unit) Estimated selling price Estimated selling expenses Merchandise A 300 180 170 10 B 500 120 140 12 C 100 250 275 25 D 200 300 310 30 Required: a/Prepare joural to record the allowance for inventory. Given that the balance of account 2293 (allowance for inventory) right before the end of the period is: 50. b/Present the information related to Inventory of this company on the Statement of Financial Position. c/Identify the effect of the inventory obsolete to income statement for this period