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UUUUUPUU for trading. The shares have a fair value of $3.55 per share on December 31, Year 2. Required: Calculate the amount of 'cash and cash equivalents' to be reported as at Dec. 31, Year 2. This company reports using IFRS. (show your calculations for part marks) Sales 25 Question 8 (7 marks) Reena Corp. lost most of its inventory in a fire in December, just before the year-end physical inventory was taken. The corporation's books disclosed the following: Beginning inventory $ 325 $ 775 Purchases for the year 525 Sales returns Purchase returns 50 Gross margin on sales 40% Merchandise with a selling price of $50 remained undamaged after the fire. Damaged merchandise with an original selling price of $75 had a net realizable value of $20. Required: Calculate the amount lost because of the fire, assuming that the corporation had no insurance coverage. acer