IAS 2 Seasonal As the season draws near the close, the store sells the dresses at 10% below the cost because carrying the dresses costs the store in terms of storage space and funds tied up in the inventories. The balance date is 31 December 2019. Summer ends in February. At 31 December 2019, the store has 4,000 dresses. Based on its past experiences, it expects to sell 30% of these dresses at 5% below cost. The remaining 70% of these dresses are expected to be sold at the normal sales price, which is 15% the cost. Each dress costs $15. Should the clothing store recognise an inventory write-down loss? And Briefly explain whether inventory write-down loss is useful to users?