CS. Ramco Building materials LLC is involved in the production of cement variants for constructions. The company has entered into a new range of product lines like ceramic tiles, wall-mounted closets, bathtubs, and washbasins in order to expand and diversify its business. The company exports its products to various countries around the world. Following are the details of their products that are held as inventory to be sold to customers: A. Ceramic tiles: The company has an inventory of 5,000 units of ceramic tiles. The cost of per unit is OMR28.750 and the selling price per unit is OMR 28.500. In order to sell the product to the end customer, the company has to spend on the sales commission of OMR 0.800 per unit, delivery cost OMR 0.500 per unit. B. Vitrified Tiles: The company has an inventory of 4,800 units of Vitrified tiles. The cost per unit is OMR38.500 and the selling price per unit is OMR 45.600. In order to sell the product to the end customer, the company has to spend on the sales commission of OMR 0.900 per unit, delivery cost OMR 0.500 per unit. C. Bath Tubs: The company stored designer model tubs in its business. They had 355 units of bathtubs as inventory. Each bathtub costs OMR 280.25 and is sold for OMR 290.50 per unit. The company has to incur OMR 4.500 for sales commission per unit, and a delivery cost of OMR 15.500 per unit. D. Designer washbasin: There were 2,200 units of designer wash basin as inventory, the cost price of washbasin was 96.50 per unit with a selling price per unit of OMR112.75. The company has to spend additional sales commission per unit of OMR 1.800 with delivery cost per unit of OMR 6.500. E. Wall mounted closet: The company stored 2,200 units of wall mounted closet with a cost price per unit of OMR127.25 and a selling price per unit of 135.50. in order to sell the company has to spend on sales commission per unit of OMR2.600 and a delivery cost per unit of OMR 10.500. Required: a) Find out the inventory value in the books of Ramco Building materials LLC. Also, find inventory write-down is existing in the above case. Journalize the write-down entries b) Al Safa Foods LLC are manufactures of cheese- based snacks and other food items. They are in this business for the past 18 years. Their products usually have a self-life of 4 Months. In the past 10 years their inventory turnover is also decent enough to make sufficient profits. They sell their products locally and also export to the neighboring countries. In the month of February 2020, they had an inventory worth of OMR 95000 in their company. Due to COVID-19 pandemic, there is a drop in the sales of their snack as the demand for other necessary food items has increased. Due to this, there is an excess inventory of ingredients piled up in their warehouses. These ingredients also have a shelf life of around three months. Required: From the accounting point of view and IAS 2, what will be the impact of COVID -19 on the books of accounts of Al Safa Foods LLC. Discuss in detail changes that may occur in the financial reports