A) Homework Ltd. has the following information on its inventories. Calculate the missing figures on 31 st january with FIFO method Inventary balance on 31. December 20x1: 5 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company, as at 31 December 20x1 is listed below: The closing inventory contains 5 items held for resale which are outdated so they can be sold only for 80% of their cost price.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 Calculate the following Net realizable value of 5 outdated items: 5 Amount of total closing inventory after NRV calculation: $ Amount of COGS: 5 Gross profit an 31 st December, 20x1