Question 2 A business buys and retails radios. The following information relate to the radios: 1. Purchase price of $18 750 2. Cost of repairs required to bring the inventory to a saleable condition is $3750 3. Selling price after the repairs $21000 (i) How will be the radios be classified in the financial statements of the business? Write your response here. (11) At what amount will the radios will be valued at the year end? A $15000 B $17 250 C$22 500 D $24 750