IGNMENT 1- IAS 2: QUESTION 1 LBC manufactures mechanicIINVENFOR FESnder the name "Talkative In the year ended 31st December 2017, 10,000 Talkatives were manufactured and the related costs were: GHC Materials 3,000 Labour 4,000 Depreciation of Machinery 2,000 Factory rates 1,000 Selling expenses 3,000 Expenses at head office 2,000 Abnormal loss 3,000 In addition to the information above, at 31st December 2017, there were 2,000 Talkatives in inventory. Required: Assuming that these have a resale value of GH5 and a Net Realisable Value of GH1.15 each, what value should be placed on the closing inventory