FDN 802 CHAPTER-5. Financial Statements 153 5-11. Unit Cost, Inventory Valuation, Cost of Goods Sold. Following data have been taken from the records of Alpha Corporation: Inventories: Jan. 1 Dec. 31 Finished goods Rs. Rs. 19,431 Work in process 2 32,600 16,800 Materials 13,600 19,700 Other information: Depreciation on factory equipment 8,500 Interest earned 2,700 Raw materials purchased 145,000 Direct labor 65,300 Indirect labor 33,400 3,400 Freight in 19,100 Factory overhead 2,400 Purchase discount Finished goods inventory on 19 January 480 units and on 31 December 320 units (all from current year's production). Sales during the year, 2,660 units at Rs.220 per unit. Required: (1) Unit cost of finished goods inventory on 31" December. (2) Total cost of finished goods inventory on 31 December. (3) Cost of goods sold. (4) Gross profit --- total and per unit. ( RO 782000-2500 units = Rs 112.80 (2) Rs.36,096