On November $1,2023,$ a firm enters into a commitment to purchase $$100,000$ of inventory on March $15,2024.$ The net realizable value of inventory on $12/31($fiscal year$-$end$)$ is $$95,000.$ On March $15,$ the firm settles the contract by purchasing all required inventory. On March $15,$ the net realizable value of the inventory is $$98,000.$ The entry recorded on March $15($assume perpetual inventory system$)$:

Group of answer choices

Reduces total assets, liabilities, and stockholders$$ equity

Increases and decreases assets by same amount, liabilities and stockholders$$ equity are unaffected

Reduces total assets and liabilities, stockholders$$ equity is unaffected

Reduces total assets and stockholders$$ equity, liabilities are unaffected

Reduces liabilities and stockholders$$ equity, total assets are unaffected