The closing stock of finished goods at cost of a company amounted to Rs. 4,50,000. The following items were included at cost in the total: (a) 100 coats, which had cost Rs. 2,200 each and normally sold for Rs. 4,000 each. Owing to a defect in manufacture, they were all sold after the balance sheet date at 50% of their normal selling price. (b) 200 skirts, which had cost Rs. 50 each. These too were found to be defective. Remedial work in April cost Rs. 2 per skirt, and selling expenses for the batch totalled Rs. 200. They were sold for Rs. 55 each. (c) Shirts which had cost Rs. 50,000, their net realizable value at Balance sheet date was Rs. 55,000 .Commission@10\% on sales is payable to agents. What should the inventory value be according to AS 2 after considering the above items