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Marks Foppi Bike Manufacturing Ltd has provided you with an extract of their Final Trial Balance along with details of Bikes on hand in inventory Credit Foppi Bike Manufactures Ltd Final Trial Balance 30/06/2021 Debit Bank $ 22,500.00 Accounts Receivable $ 103,000.00 Inventory $ 210,169.00 Cost per unit NRV per unit Inventory Details 30/06/2021 Carbon bikes Aluminium bikes Steel bikes Number of Units 342 129 74 $ $ $ 465.00$ 286.00 $ 386.00 $ 1,200.00 175.00 780.00 18a) 3 M Using the above information show how the inventory balance in the trial balance is correct based on AASB 102 Inventories. (3 marks) Mo Using the above information prepare the journal entry that WOULD have been recorded to write down the inventory balance so that the amount in the trial balance is correct. The trial balance is correct and the Inventory Details provide information that was used to prepare the journal entry. (2 marks) - B I IC X x? iii TI Hi C ABC 123 9 Dr Cr Details 180) Briefly explain applying AASB 102 Inventories Standard why any possible inventory write downs must be considered prior to preparation of General Purpose Financial Reports (year end Income Statements and Balance Sheets). (3 marks) Marks You have been able to find the following detailed information for Carbon bikes Details Cost Per Bike Advertised price $420.00 1 Invoice price $380.00 1 Freight Costs (Freight In) $20.00 Advertising promotion costs for Carbon Bikes $25.00 ! $10.00 Costs to maintain inventory accounting records Bike assembly costs $65.00 1 You have also found the Inventory Details shown in Fig.2 above Applying this information justify how the cost price of Carbon bikes has been determined. Show your calculation and explain why you included or excluded each of the above amounts. (7 marks)