Q1. Yam Yu Ltd had a closing inventory amounted to K116,400 excluding the following two inventory lines: 400 items which had cost K4 each. All were sold after the reporting period for K3 each, with selling expenses of K200 for the batch. 200 different items which had cost K30 each. These items were found to be defective at the end of the reporting period. Rectification work after the statement of financial position amounted to K1,200, after which they were sold for K35 each, with selling expenses totalling K300. Required: Calculate the inventory total figures that should appear in the statement of financial position.