You have been provided with the following selected account balances for FGR (Pty) Ltd as at 30 June 2020: Ledger Account Amount and debit/credit General ledger Direct material control account R980 000 debit Work-in-progress (WIP) control account R730 000 debit Finished goods R120 000 debit Cost ledger Job #357 R56 000 debit Work on job #357 commenced on 15 June 2020. On 1 July 2020, a further cost of R4 000 was incurred on job #357, after which the job was completed. Still on the same day (1 July 2020), job #357 was invoiced to the client concerned at R75 000.

1) The total inventory value (all categories of inventory) as at 30 June 2020 is ______ debit. (2)

a) R980 000

b) R1 830 000

c) R1 886 000

d) R1 905 000

2) The total profit or loss on job #357 is _________. (2)

a) Loss of R45 000.

b) Profit of R23 000.

c) Profit of R19 000.

d) Profit of R15 000.

3) Upon completion of WIP, the total accumulated cost of the completed goods will be credited in the following account: (2)