d) Parrot Ltd manufactures steel rods for the export market. It has a February year end. Trading stock with a cost of N$800 000 was sold to an importer in a foreign country for an amount of N$1 700 000. The goods were shipped cost insurance freight (CIF). CIF mean that the ownership only passes when the goods are off-loaded from the ship. At the end of the year of assessment ending 28 February 2021 the exported goods were not held or disposed of the reason being that the ownership has not passed yet. The goods were not included in closing stock Required: Briefly discuss how the goods in transit should be included in closing stock and when a deduction can be claimed 3 marks