Brad Shaw & Co. imports raw materials from China worth Rs.1 million. They paid Rs.80,000 as import duties and Rs.20,000 as import taxes (the import taxes were subsequently refunded by the local government). They paid Rs.50,000 for transportation of the materials from China and another Rs.10,000 as port handling charges for loading the materials at China. Marketing expenses were Rs.10,000 and the general administrative overheads amounted to Rs.5,000. What will be the value of inventories as per IAS 2