The following information relates to the most recent financial year of Hardie (Wholesale) Ltd. Sales for the year were 780,000. Inventories at the year end were 90,000. Average trade payables outstanding during the year were 70,000. Gross profit percentage was 40%. Average settlement period for trade payables was 70 days. All,purchases were made on credit. What were the inventories at the beginning of the year? (Calculations to nearest f.) What were the inventories at the beginning of the year? (Calculations to nearest f.) E