On 30 September 2021, Razor's closing inventory was counted and valued at its cost of N$ 1 million. Some items of inventory which had cost N$ 210 000 had been damaged in a flood (on 15 September 2021) and are not expected to achieve their normal selling price which is calculated to achieve a gross profit margin of 30%. The sale of these goods will be handled by an agent who sells them at 80% of the normal selling price and charges Razor a commission of 25%. At what value will the closing inventory of Razor be reported in its statement of financial position as at 30 September 2021? a. N$ 1 million b. N$ 970 000 c. N$ 180 000 d. N$ 790 000 in 0 10