Question 10: Company ABC is a furniture manufacturer producing tables and chairs. In the month of July, the business incurred the following costs: . Raw materials: R137 000 . Direct labour costs: R85 000 . Associated consumables: R24 000 Lighting and heating: R13 500 Variable factory overheads: R6 700 . General administration costs R6 500 Selling and distribution costs: R3 500 . Depreciation of production equipment: R5 750 Additional information: Company has fixed overhead rate of 12 c Company ABC produced 350 000 tables and 400 000 chairs in the month of July. 65% of lighting and heating costs relate to production. 25% of general administration costs relate to production. Required: If the cost of packaging and delivering ABC's inventory is R50 000 and the selling price of the inventory is R440 000, at what value should Company ABC record its inventory at, for the period