Question 1: (10 marks) Yousaf purchased inventory at a cost of $ 10 million on 1 July 2015. The goods were sold in November 2015 for $14 million. Yousaf had cash flow problems during 2015 and negotiated with its supplier to exchange the goods for options on its shares. The shares had a market value of 11.5 million on 1 July 2015. Explain how the transaction should be dealt with in the financial statements for the year-ended 31 December 2015. Question 1: (10 marks) Yousaf purchased inventory at a cost of $ 10 million on 1 July 2015. The goods were sold in November 2015 for $14 million. Yousaf had cash flow problems during 2015 and negotiated with its supplier to exchange the goods for options on its shares. The shares had a market value of 11.5 million on 1 July 2015. Explain how the transaction should be dealt with in the financial statements for the year-ended 31 December 2015