Problem 1A A company makes candles and has the following costs for year 1: 75,000.00 4,500.00 Material Costs Wax and other material used in production Excess material wasted from machine break down Subtotal material Factory wages related to production Finished goods storage costs Allocated Fixed Overhead Variable Overhead Subtotal Factory Costs Billing clerk wages for sending invoices to customers Grand Total Costs 79,500.00 55,000.00 15,000.00 2,700.00 1,800.00 154,000.00 7,500.00 161,500.00 According to IAS 2, What is the total Inventory Cost