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Red Ltd Co sells three types of products and holds them in its warehouse. It has carried out stock taking and produced the following information

Red Ltd Co sells three types of products and holds them in its warehouse. It has carried out stock taking and produced the following information at the end of the year.

Products

Units in stock

Cost per Unit (P)

Market Value

Table

25

1,250

Damage due to flood so can be sold at P450 each.

Chairs

115

720

Need repacking that cost P30 each and can be sold for 920 each.

Cupboards

30

1,370

Cupboards have been damaged due to an accident and cost approximately P320 to repair each and can be sold for P1500 each

Required;

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