Inventory Cost of Goods Sold Sales Revenue Beg bal 10,500 14,500 End bal Bal 73,000 Bal 118,000 A year ago, the net realizable value of ending inventory was $13,400, which exceeded the cost of $10,500. Erie has determined that the net realizable value of the December 31, 2018, ending inventory is $10,800. Erie Garden Supplies uses a perpetual inventory system. The company has these account balances at December 31, 2018, prior to making the year-end adjustments: (Click the icon to view the account balances.) (Click the icon to view additional information.) Read the requirement. Erie Garden Supplies Income Statement (partial) Year Ended December 31, 2018 Gross profit