As at 31 December 20X4, Litch Co had 100 units of work-in-progress inventory, with incurred production costs of $14,900. It will cost an additional $13 per unit to complete them. Each completed unit sells for $166, and direct selling costs are 2% of the selling price. In accordance with IAS 2, at what amount should the inventory be valued?

The following information relates to the receipts and issues of materials at S Co for the month of August: - 3 August: Received 400 units @ $17 each - 5 August: Received 250 units @ $18 each - 12 August: Issued 120 units - 18 August: Issued 480 units - 25 August: Received 275 units @ $16 each What is the value of closing inventory using the FIFO method of inventory valuation?

The following information relates to the receipts and issues of materials at S Co for the month of August: - 3 August: Received 400 units @ $17 each - 5 August: Received 250 units @ $18 each - 12 August: Issued 120 units - 18 August: Issued 480 units - 25 August: Received 275 units @ $16 each What is the value of the units issued on 18 August using the LIFO method of inventory valuation?