The closing inventory of X amounted to $11,6400 excluding the following two inventory lines:

i. 400 items which had cost $4 each. All were sold after the balance sheet date for $3 each, with selling

expenses of $200 for the batch.

ii. 200 different items which had cost $30 each. These items were found to be defective at the balance sheet

date. Rectification work after the balance sheet amounted to $1200 after which they were sold for $35 each

with selling expenses totalling $300.

Required: Which figure should appear in Balance Sheet for inventory X?