Sportsgear Ltd sets selling prices at cost plus 20%. The company's accounting period ended on 31 December 20x8. The physical inventory was taken on 5 January 20x9 and amounted to 482,800 being the cost. Assuming that the remainder of information is as stated below, calculate the cost of closing inventory as at 31 December 20x8: Purchases and sales during the five days since 31 December were 82,400 and 97,200 respectively. As at 31 December goods invoiced to customers at 37,350 were with customers, on approval. A third of these goods were returned by the customers on 4 January A. 502,150 B. 460,650 O C. 504,950 OD. 512,525