Question 1 a) The following information relates to the inventory of Doc Martin shoes held by High Fashion Ltd: Net realisable value Cost Replacement cost RM7,000 7,500 9,000 Required : State the amount of his inventory shown in the financial statements. (1 marks) b) Iron and Steel plc have completed the physical count of year end inventory and are now valuing their inventory for incorporation into the financial statements. The following information is available in respect of two items: Nuts Bolts Purchase price Selling price Quantity RM 2.50 RM 2.25 100 RM 3.00 RM 3.50 200 Required: What value will be attributed to these items in the financial accounts? (1 marks) c) Goods for resale at 30 September 2021 were RM 159,793, valued at cost. This includes inventory which cost RM 30,000, which will have to be sold for75% of this original cost. Required: Compute the amount of ending inventory included in the balance sheet at 30 September 2021. (show clear workings) (4 marks)