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Question 33 Pip purchased some raw material inventory from a supplier at a purchase price of 2,000. The raw materials have been converted into finished goods inventory by a process. The process cost 3,500, made up of 2,000 direct labour, 1,200 electricity cost and 300 attributable production overheads. The finished goods will be sold for 8,000. What is the value of the finished goods inventory to be shown in Pip's financial statements