A business prepares its financial statements annually to 30 April and stock-taking is carried out on the next following weekend. In 20X5, 30 April was a Wednesday. Stock was taken on 3 May and the stock actually on the premises on that date had a value at cost of £124,620. The following additional information is ascertained:

(i) The cash and credit sales totalled £2,300 during the period 1–3 May.

(ii) Purchases recorded during the period 1–3 May amounted to £1,510 but, of this amount, goods to the value of £530 were not received until after 3 May.

(iii) Sales returns during 1–3 May amounted to £220.

(iv) The average ratio of gross profit to sales is 20%.

(v) Goods in stock at 30 April and included in stock-taking on 3 May at £300 were obsolete and valueless.

Required:

Ascertain the value of the stock on 30 April 20X5 for inclusion in the financial statements.