what is the answers to the above questions?

In addition to the inventory data provided under TASK 3, Island Solutions accountant has made the following projections in light of the market changes. 1. Assume that Island Solutions applies LCNRV at the individual product level, determine the value of inventory that should be reported on the statement of financial position on September 30 , 2023. 7m 2. Assume Island Solutions applies LCNRV at the major group level and for this purpose places TA3 and TB3 Hubs in one major group, determine the value of inventory that should be reported on the statement of financial position on September 30, 2023. 2m TASK 5: Explain two (2) similarities and three (3) differences between IFRS and US GAAP with respect to accounting for inventories. 10m