B) The balances of selected accounts of Homework limited liability company, as at 31 December 201 is listed below: The closing inventory contains 5 items held for resale which are outdated so they can be sold only for 80% of their cost price.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 Calculate the following: Net realizable value of 5 outdated items: Amount of total closing inventory after NRV calculation: Amount of COGS: Gross profit on 31st December, 20X1