D \& C Stores is a food retailer that values inventory at a retail price less a margin. Inventory at 30 November 2012 has been counted and categorized as follows:

It is company policy to create a provision of \(50 \%\) of the cost of perishable goods.
\section*{Required}
Calculate the closing inventory value to be included in the accounts of D \& C stores at 30 November 2012.
\section*{Level III}

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Category Units Retail price per unit Average gross margin Perishable goods 800 1.20 Drinks 1,850 2.90 % 40 20 Household, cleaning 550 2.10 18 Tinned goods 6,300 0.65 15 Packaged dry goods 4,100 1.40 24 854