Exercise 2.3 Measurement of merchandise On Dec 31, 01, entity E owns 100 units of merchandise M. The purchase took place on Oct 15.01. Settlement in cash and delivery took place on the same date. The costs of purchase were CU 1 per unit. On Dec 31, 01, the net realizable value amounts to CU 0.9 per unit. On Jul 10, 02, 90 units of M were sold to a customer for CU 95. Settlement in cash and delivery took place on the same date. direct lowing On Dec 31, 02 there are still 10 units of M in the warehouse of E which could not be sold yet. At that date, net realizable value amounts to CU 1.1 per unit. Required Prepare any necessary entries in E's financial statements as at Dec 31, for the years 01