Question 1 Massy Waterfront (Castries) Gutted by Fire Massy Supermarket on the waterfront was closed for Sunday shopping after a fire gutted through the establishment last night. Smoke was seen emanating from one of the roof fans of the Conway Business Center (home to Massy Waterfront) as firefighters worked relentlessly to extinguish the blaze inside. MASSY Supermarket Closed While the exterior was spared from the blaze, the interior suffered significant damage. The fire destroyed everything one customer told The Voice. "What fire didn't take the water and smoke did https://www.thevoiceslu.com/2020/10/massy-waterfront-gutted-by- fire/?fbclid=lwAR1BoNgDiOOJmgeG5P08M08xYwV9DFVC420Phtn5HRY2gRK6B8HiAwwufw A. According to the closing line of the article's excerpt, Massy Waterfront probably lost most of it inventory. For financial reporting purposes: i) What type of inventory is being referred to? (1 mark) ii) How is this type of inventory defined? (1 mark) ii) What costs should be included in the measurement of cost of this type of inventory? (2 marks) iv) What other types of inventory could be disclosed by businesses for financial reporting? (2 marks)