Hi I need solutions for question number 25-29 only, but somehow it is related from the previous question. So that's why I'm sending the pics too. Also, don't mind the scribble answers I made. Thank you. Inventory chapter. Financial Accounting Reporting 2

Kitchen Store Bhd (KSB) is a kitchenware company operating in Kedah. The company is in the process of preparing its annual financial statements for the year ended 31 December 2019. The relevant inventory costs and market data on 31 December 2019 is summarised in the schedule below: Item Quantity Cost per Unit (RM) 2.000 Plate Bowl Skillet Estimated Selling Price per unit (RM) 4.00 5.20 86.00 Completion and Selling Cost per unit (RM) 1.20 0.70 11.00 1,500 6.70 8.30 70.00 800 Assume the LCNRV is based on individual-item" approach. Refer to the schedule above, fill in the blanks for Q10-Q29. Please state 'nil' for zero amount. 10. Determine the NRV/unit for plate: RM 9.80 11. Determine the NRV/unit for bowl: RM 4.50 12. Determine the NRV/unit for skillet: RM75.00 13. Determine the LCNRV for plate: RM 5,600 14. Determine the LCNRV for bowl: RM 6,750 15. Determine the LCNRV for skillet: RM 56,000 16. Determine the write-down value for plate: RM 7.800 17. Determine the write-down value for bowl: RM 5,100 18. Determine the write-down value for skillet: RM 19. Determine the total LCNRV: RM 68,350 20. Determine the total write-down amount: RM 13,500 Assume that KSB applies the Loss Method and the Allowance to Reduce Inventory to NRV Account to record the write down of the inventory. 21. What are the journal entries that KSB should record on 31 December 2019? Dr Loss of Inventory/Loss Due to Decline of Inventory to NRV RM 13.500 2 Rental RM20,00037 TIVES 22. What are the journal entries that KSB should record on 31 December 2019 Cr Fill in the blank with the types of account and the amount. Eg Inventory RM 13,500 Assume that KSB applies the Cogs Method and the Inventory Account to record the write down of the inventory Cr 23. What are the journal entries that KSB should record on 31 December 2017 Dr Fill in the blank with the types of account and the amount. Eg Rental RM20,000) cost of good sold RIN 9,500 24. What are the journal entries that KSB should record on 31 December 2019? [Fill in the blank with the types of account and the amount. Eg Rental RM20,000) Inventory a 9.500 Assume that KSB applies the Loss Method and the Allowance to Reduce Inventory to NRV Account to record the write down of the inventory (For Q25-Q29). 25. When the inventories previously written down below cost no longer exist or when there is clear evidence of an increase in NRV, the 26. Recovery of inventory loss should be limited to the In other words, recovery of inventory loss should not be more than the previous loss recognized 27. Determine the amount of gain or loss that would be recorded by KSB if there is a credit balance of RM15,150 in the Allowance to Reduce Inventory to NRV Account RM [Indicate whether the amount is a loss or gain by stating a loss as (Dr Amount) or gain as (Cr Amount). E.g. Dr 1,000] 28. What are the journal entries that KSB should record on 31 December 2019 for the recovery of the inventory loss? Dr [Fill in the blank with the types of account and the amount. E.g. Rental RM20,000)) Inventories RM 13,500 29. What are the journal entries that KSB should record on 31 December 2019 for the recovery of the inventory loss? Cr [Fill in the blank with the types of account and the amount. Eg Rental RM20,000) Recovery of inventory loss RICT 13,500 3 S