Luxury Goods Sdn. Bhd. initial trial balance as at 31 May 2021 has already been entered on the extended trial balance for the 12-month reporting period. Extended trial balance (extract) Trial Balance RM RM 456,875 Opening inventory (at 1 June 2020) Closing inventory (at 31 May 2021) Inventory was counted on 31 May 2021 and its cost has been established at RM572,904. Of this, inventory costing RM27,485 is damaged and is estimated to have a net realisable value of only RM15,000. In the adjustments column on the extended trial balance Luxury Good Sdn. Bhd. should make these entries: 1. (debit/credit) RM to the closing inventory account