. Company produced some inventories at cost of $3000. The inventories were damaged by flood, and these inventories are still on Company's balance on December 31 2021. The Company has two options: Option 1. Fix the inventories for $1600 and sell it at their normal price of $5000. Agent commission will be 10% from selling price Option 2. Sell the inventories without fixing for 2800. This option does not assume any selling costs. Carrying value of the inventories on December 31, 2021 is $2900. TRUE FALSE