Inventories are valued at lower of cost and net realizable value. Cost is determined appropriate cost formula like FIFO or weighted average. Net realisable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. Speciality Chemicals Inc. found that cost of its ending inventory $ 60000, market value of these inventory is 95% of cost. Over and above, the company has to pay brokerage of 0.75% on selling price. What should be value of inventories? O $56572.50 $57000 $60000 $ 56550 Based on the following information, work out cost of ending inventory applying periodic weighted average cost: Date Purchases Sales Balance Qty Rate Amount Qty Qty Rate Amount Per $ Per S Unit 5000 5 30000 2020 Jan Jan 4000 24000 8 Jan 500051 25000 13 1 7000 36000 Jan 17 Jan 5000 12 Jan 9000 20 Jan Type your