MMU Bhd. involves in the processing of fertilisers. The following information relate to a finished good item called "FOB for the year ended 31 Dec 2020. Raw materials: per kg Invoice price of 30,000 kgs RM45 Import duties RM3.00 Freight & transport RM2.00 During the year, 20,000 kgs of Raw Material were used up. The machine normal capacity is 30,000 kgs of "FOB per year. But, for the year ended 31 Dec 2020, only 19,500 kgs were produced. The abnormal wastage of material was 500 kgs. At year end, there were 2,500 kgs of "FOB in the closing inventory. Production cost: Direct labour @ RM3/kg Variable overheads @ RM4/kg Fixed overheads of RM150,000 Continued... SKD 2/3 BAC2634 FINANCIAL ACCOUNTING AND REPORTING I 16 September 2021 Compute: a) the cost of purchase of Raw Material, b) value of closing inventory of Raw Material, c) value of closing inventory of Finished Goods and d) cost of goods sold