hi, please help with question 3

QUESTION 3 (20 Marks; 38 Minutes) Ignore value-added tax ("VAT'). Discovery Manufacturing, a manufacturer of camping equipment, and has a 31 December financial yearend. The entity consists of two divisions, namely, a manufacturing division (factory) and a sales division. The following information was extracted from the entity's accounting records during the 2020 financial year: R Balances on 1 January 2020 Raw materials inventory Work-in-progress Finished products 22 500 18 250 82 500 The following transactions occurred during the 2020 financial year: R Sales Sales returns Purchases: raw materials Freight costs: raw materials Credit losses recovered Electricity (60% manufacturing) Delivery costs of sold goods Wages paid to factory workers Salary paid to factory manager Salary paid to sales manager Travelling and commission Administrative expenses 540 000 80 000 120 000 5 000 14 400 48 000 13 200 57 200 96 000 48 000 6 700 18 500 Additional information: 1. On 31 December 2020, wages amounting to R5 200 were due to factory workers. 2. The entity had purchased a manufacturing machine two years earlier for R75 000. Annual depreciation should be provided for at 20% of cost price. 3. Annual depreciation on vehicles should be provided for at 25% of cost price. The vehicles were purchased in the previous financial year for R100 000 and is only used by the sales division. 4. Inventory on hand on 31 December 2020 was as follows: R Raw materials Work-in-progress Finished goods Stationery 17 000 12 000 99 000 3 500 ACCF 121 2021 ONLINE TEST 1 4/5 REQUIRED - QUESTION 3 Sub- total Total 1. Prepare the following accounts in the general ledger of Discovery Manufacturing for the year ended 31 December 2020 (all accounts must be closed off). Show all calculations. a) Work-in-progress b) Finished products 6.0 3.0 9.0 2. Prepare the statement of profit or loss and other comprehensive income for the year ended 31 December 2020. 7.0 1.0 17.0 Comparative figures are not required Communication- and layout skills Calculate the amount at which the line item "inventory" should be presented on the face of the statement of financial position on 31 December 2020. 3. 2.0 19.0 1.0 20.0 4. Complete the following statement: Inventory is always valued at.......... TOTAL MARKS 20