Pls answer the questions 6.8, 6.9 & 6.10 with your detailed explanations, it's much appreciated!

The financial year of Mitex Co ended on 31 December 20X1. An inventory count on 4 January 20X2 gave a total inventory value of $527,300. The following transactions occurred between January 1 and January 4. What inventory value should be included in Mitex Co's financial statements at 31 Decemb 201? $525,400 $527,600 $529,200 $535,200 (2 mar Which of the following statements about IAS 2 Inventories is correct? Production overheads should be included in cost on the basis of a company's normal level of activity in the period. In determining the cost of inventories, trade discounts received must be deducted and selling costs must be added. In arriving at the cost of inventories, FIFO, LIFO and weighted average cost formulas are acceptable. It is permitted to value finished goods inventories at materials plus labour cost only, without adding production overheads. (2 marks) You are preparing the financial statements for a business. The cost of the items in closing inventory is $41,875. This includes some items which cost $1,960 and which were damaged in transit. You have estimated that it will cost $360 to repair the items, and they can then be sold for $1,200. What is the correct inventory valuation for inclusion in the financial statements? $39,915 $40,755 $41,515 $42,995 (2 marks)