At the end of 2020, XYZ has inventory with an original cost of $28,000. The market value of this inventory is deemed to be $10,000. The journal entry to account for this will include: a debit to cost of goods sold of 18,000 a debit to loss on inventory devaluation of 18,000 a debit to inventory of 18,000 a debit to inventory of 10,000 no journal entry is needed until the inventory is sold