Kamer Company adopts IAS 2 for the accounting of inventories. The table below shows the data for the inventories at the end of the current financial year.

Which of the following is the total value of inventories that should be reported in the balance sheet.

KM12 KM23 KM45 No.of units 480 520 630 Purchase price 1,300 1,670 2,825 Transport and handling 150 180 230 Cost of Conversion 500 600 700 Storage costs 80 85 90 Administative Overhead 130 150 175 Selling costs 420 515 685 Selling Price 2,450 2,800 4,150

Select one: a. 4,431,150 b. 4,307,150 c. 5,050,250 d. 4,965,600

Q16