Q1.4 There are 2 sub-parts to Q1.4, worth 3 marks each. Total: = 6 marks 6 Points NG has the following items of stock on hand as at the end of 30 June 2021: Inventory Y Stock valuation (GST exclusive) Inventory X $ $ Inventory Z $ 100,200 At cost 90,000 100,000 Replacement value 100,400 80,000 100,000 Market Selling value 100,600 100,100 80,000 (a) Calculate the value of closing stock for the year using the most tax effective strategy to minimise NG's taxable income.[3 marks] Enter your answer here (b) The accounts of NG showed the value of the opening stock across the above 3 inventory categories totalled $330,000 (GST exclusive). Assuming there were no purchases of trading stock during the year, what amount would be assessable or deductible after you have determined the value of the closing stock in (a) above? [3 marks] Enter your answer here