4. TOUPI has calculated its closing inventory for year ended 31 July 2018 at 56,900. Included in this figure is a batch of 30 items of raw material carried at the cost price 1,000 each. These items have declined in value, and could be sold for a maximum of 28,500 at 31 July 2018. However, TOUPI plans to incorporate these items into finished goods and it expects these to generate a profit of 6,800. What is the correct figure for closing inventory at 31 July 2018 according to IAS 2 - Inventory? * (8 Points) 26,900 63,700. 50,400 56,900