ignore GST. Retailer Ltd. sold two types of inventory (Tables and Chairs). It had the following information is at the end of the financial year (30 June 2023). Tables: cost, $25,000; net realisable value $50,000. Chairs: cost, $40,000; net realisable value $30,000.

The journal entry related to inventory to record at 30 June 2023 includes which of the following?

A) Dr Inventory $65,000. B) Dr Inventory Write-down Expense $10,000. C) Cr Gain on Inventory Revaluation (net) $15,000. D) No entry needed to adjust the value of inventory.