In relation to reporting inventory on the Statement of financial position which of the following statements is incorrect?

(a) Comparison of cost with NRV should be done for each item or groups of fungible items

(b) The NRV is found by deducting from sale price expected trade discount and cash discount

(c) An item of inventory need not be written down to lower NRV if it is not intended for sale

(d) The requirement to report inventory at lower NRV is to ensure that an asset is not reported on the Statement of financial position at an amount higher than the future economic benefit expected to flow from it.