Eta Corporation
 Date: 31 January 2024

Details:

1. Raw material inventory (fiber):
   • Cost: £32,000
   • Replacement cost: £30,000
2. Finished goods inventory:

Product	Omicron	Pi
Direct costs	£70,000	£55,000
Proportion of fixed overhead	£18,000	£15,000
Proportion of selling costs	£5,000	£4,500
Net realizable value	£110,000	£85,000

3. Vehicles:
    Acquired on 1 February 2018 for £320,000, depreciated over 10 years using the straight-line method.
4. Buildings:
    Acquired 12 years ago for £2,300,000, land value estimated at £500,000. Buildings are depreciated over 55 years.
5. Research and development:
   • Research costs: £420,000
   • Development costs: £690,000, benefiting over 6 years.

Required:
 Prepare the necessary financial statement adjustments for Eta Corporation as of 31 January 2024.