Asset

A. Inventory

The following information relates to the inventory on hand at 31 December 2020. Calculate the value of inventory on hand in accordance with the requirements of IAS 2.

Item	Quantity	Cost per unit $	cost to replace	estimated selling price	cost of completion
A	600	2.5	2.7	4.15	0.25
B	800	3	3.7	3.2	0.6
C	700	6	5.4	4.9	0.8
D	950	7	6.97	7	0.35
E	840	3.6	3.45	5.16	0.3
F	360	8.4	8.7	7.9	0.2

B. Account Receivable

One of the accounting staff who is in charge for account receivable, has just purchased a $35,000 apartment in cash. The staffs salary was $2,500 per month. The accounting data was as follow:

Collections from customers $ 198,000

Merchandise purchased 320,000

Ending merchandise inventory 70,000

Goods are marked to sell at 40% above cost. Assume all sales were made on account.

The balance shown in ledger was $117,000.

Based on the data, should the management investigate the difference in account receivable calculated?