After stock taking for the year ended 31 May 2011 had taken place the closing inventory of Cobden Ltd was aggregated to a figure of £87,612. During the course of the audit that followed the undernoted facts were discovered:

(i) Some goods stored outside had been included at their normal cost price of £570. They had, however, deteriorated and would require an estimated £120 to be spent to restore them to their original condition, after which they can be sold for £800.

(ii) Some goods had been damaged and were now unsaleable. They could, however, be sold for £110 as spares after repairs estimated at £40 had been carried out. They had originally cost £200.

(iii) One stock sheet had been over-added by £126 and another under-added by £72.

(iv) Cobden Ltd had received goods costing £2,010 during the last week of May 2011, but because the invoices did not arrive until June 2011 they have not been included in the inventory.

(v) A stock-sheet total of £1,234 had been transferred to the summary sheet as £1,243.

(vi) Invoices totalling £638 arrived during the last week of May 2011 (and were included in purchases and in creditors) but, because of transport delays, the goods did not arrive until June 2011.

(vii) Portable generators on hire from another company at a charge of £347 were included at this figure in the inventory.

(viii) Free samples sent to Cobden by various suppliers had been included in the inventory at the catalogue price of £63.

(ix) Goods costing £418 sent to customers on sale or return basis had been included in the inventory at their selling price of £602.

(x) Goods sent on sale or return basis to Cobden had been included in the inventory at the amount payable (£267) if retained. No decision to retain has been made.

Required: 

Ascertain the inventory to be included in the Statement of financial position as at 31 May 2011.