What effects, if any, do rapid changes in technology have on the appropriateness of each of the alternative ways of assigning a cost or a value to an item.

I. Under certain circumstances only one of the altl:rnativc methods of valuation is the most appropriate. Giving brief reasons for your choice, suggest the most appropriate value to be placed on each item in the following.
Jean owns a shop which used to sell clothes but she has now decided that given the location she would make more money running a restaurant at the same premises. She has obtained planning permission for the change of use and has bought some of the equipment needed but has not yet started trading. She has made a list of the items that the business owns which is reproduced below:

(a) freehold shop

(b) hanging display rail for clothes

(c) a two year old car which is essential for the business

(d) new restaurant tables and chairs

(e) cash till

(f) quantity of fashion garments that were not sold in the closing down sale.
You may find that you need more information or have to make some assumptions. This is normal but you should state any assumptions that you are making.