Question $1$

As at the financial year end of $31$ July $2023,$ Green$-$life Bhd$.($Green$-$life$)$ had $20,000$ units of

product $x.$ The cost per unit of product $x$ was RM$800$ and the selling price was RM$1,200$ per unit.

A selling cost of RM$5$ per unit have to be incurred for every unit sold.

As at the year end, a binding sale contract had been obtained by Green$-$life for $1,000$ units of

product X for a selling price of RM$750$ per unit and would be delivered on $20$ August $2023.$ Apart

from the selling cost, a delivery charge of RM$8$ per unit have to be incurred on this binding sale.

On $10$ August $2023,$ the selling price of product $x$ declined to RM$700$ per unit.

Required:

Compute the value of the inventory as at $31$ July $2023$ after the knowledge of the decline in the

sale price on $10$ August $2023.$help