Viva Ltd does not keep records of stock movements. A physical stocktaking is made at the end of each quarter and priced at cost. This figure is used for compiling quarterly accounts. Draft accounts have been prepared for the year ended 31 March 20X0, but have not been completed as the details of the stock count on 31 March 20X0 have been mislaid and cannot be found. The company operates on a gross-profit markup of 33}per cent of cost. You have ascertained the following facts:

(a) the total of sales invoiced to customers during January, February and March 20X1 was £53,764. This figure includes £4,028 relating to goods despatched on or before 31 December 20X0. The total of the goods despatched to customers before 31 March 20X1 but invoiced in the following month was £5,512;

(b) the total of purchase invoices entered in the purchase day book during January, February and March 20X1 was £40,580 and this figure includes £2,940 in respect of goods received on or before 31 December 20X0. Invoices relating to goods received in March 20X1 but which were not entered in the purchase day book until April 20X1 totalled £3,880; (c)_ the value of the stock at cost on 31 December 20X0 was £42,640;

(d) in the stock sheets at that date;

(i) _ the total of one page was over-cast by £85; (ii) 120 items, the cost of which was £2 each, had been priced at 40p each; (iil) the total of the stock in one section, which was £5,260, had been included in the summary as £5,620.

Required:

Show how you would arrive at the figure for the stock at cost as on 31 March 20X1.