Sigma Corporation
 Date: 31 March 2024

Details:

• Raw materials inventory (fiber):
  • Cost: £32,000
  • Replacement cost: £30,000
• Finished goods inventory:

Product	Gamma	Delta
Direct costs	£65,000	£55,000
Proportion of fixed overhead	£18,000	£16,000
Proportion of selling costs	£5,000	£4,500
Net realizable value	£105,000	£85,000

• Office machinery:
   Acquired on 1 April 2017 for £330,000, depreciated over 9 years using the reducing balance method.
• Freehold property:
   Acquired 20 years ago for £2,900,000, land value estimated at £750,000. Buildings are depreciated over 60 years.
• Research and development:
  • Research costs: £770,000
  • Development costs: £1,390,000, benefiting over 7 years.

Required:
 Detail the necessary financial statement adjustments for Sigma Corporation as of 31 March 2024.