Question 13 Trotter Company has 5,000 scrunchies which it purchased in 1989 for $10 each. The market value for these scrunchi each. Which statement is true regarding the value to be reported on the company's balance sheet. the inventory should be reported at $0 to be in compliance with reality O the inventory should be reported at $50,000 to be in compliance with the cost principle. o the inventory should be reported at $5,000 to be in compliance with the matching principle. o the inventory should be reported at $5,000 to be in compliance with accounting concept of conservatism. Question 14 Amounts due from customers that are expected to be collected in the current operating cycle and do not charge inte as: O accounts receivable notes receivable cost of goods sold sales returns & allowances