A fire damaged 6 flat-screen LCD television and 14 DVD players held for sale by Awesome Electronics Inc. Since the damage was not covered by insurance, the items will be repaired and sold in accordance with the following data:

Data per Unit LCD Television DVD Players

Normal Selling Price $1,500 $400

Purchase Price $1,200 $300

Repair Costs $ 105 $ 90

Selling Costs $ 45 $ 30

Selling Price (after Repairs) $ 675 $160

Required: Provide Journal Entries, if any, to record the fire damage, in accordance with IFRS, for Jan. Dec. 2016 fiscal year.