TUTORIAL FROM MID SEM FEB 2021 MODIFIED Q KJT Bhd is a semiconductor company in the southern region. The following information relates to the inventory as at 31 December 2020. Group Selling Price Item Cost Estimated cost to sell 1 RM 100 180 80 A1 A2 A3 B1 B2 C1 C2 2 3 40 RM 650 850 560 380 400 250 180 220 100 130 RM 350 420 540 200 180 110 160 180 80 100 40 70 90 C3 60 4 D1 D4 30 90 Required: (a) Calculate the value of valuation of the inventories base on item by item. All calculations are to be rounded off to the nearest RM. (b) Calculate the valuation of the inventories base on group. (c) Prepare journal entries to write down the inventories under group basis provided that the written down value is consider insignificant by the company