b. DEF Ltd. reported the following in its 2021 annual report. DEF's income statement reported 2021 cost of goods sold of $2.852,714. Its balance sheet reported inventories of $1,019,496 in 2021 and $1,158,548 in 2020. So hattal DET S Board of Directors approved restructuring plans designed to better align its financial resources with the critical priorities of its business and optimize operations. DEF recognized approximately $203,900 of pretax charges in connection with its restructuring plan. The costs incurred during the year ended 31 December 2021 include a write-off of inventory value of $20,801. Required: i. Explain why DEF recorded an inventory write-off. (Maximum words: 50) (1 mark) ii. Calculate inventory turnover and days inventory outstanding for 2021 using the average inventory balance. Show your workings and round your answer to two decimal places. (4 marks) iii. IfDEF had not written off inventory in 2021, what would it have reported for cost of goods sold in 2021? What would have been the inventory balances in 2021 and 2020? (3 marks) iv. Use the cost of goods sold and the average inventory balance computed in part (iii) to recalculate inventory turnover and days inventory outstanding. Show your workings and round your answer to two decimal places. (2 marks)