Mildred Plc had goods in store which was flooded due recent monsoon rains. None of the goods were insured and have suffered damage due to the rain. The details of inventory are as follows: Net realisable value () Cost () Item 1 7,000 9,000 2 12,000 12,500 3 8,000 4,000 4 14,000 8,000 27,000 33,000 68,000 66,500