A$)$ Homework Ltd$.$ has the following information on its inventories.

Calculate the missing figures on $31$st January with FIFO method

Inventory balance on $31.$December $20$X$1$:

B$)$

The balances of selected accounts of Homework limited liability company, as at $31$ December $20x1$ is listed below:

The closing inventory contains $5$ items held for resale which are outdated so they can be sold only for $80\%$ of their cost price. The expected selling

B$)$

The balances of selected accounts of Homework limited liability company, as at $31$ December $20x1$ is listed below:

The closing inventory contains $5$ items held for resale which are outdated so they can be sold only for $80\%$ of their cost price. The expected selling

cost is $5\%$ of the selling price.

Calculate the following:

Net realizable value of $5$ outdated items:

$

Amount of total closing inventory after NRV calculation:

$

Amount of COGS:

$

Gross profit on $31$st December, $20$X$1?$

$