The year end of a business is 31 December 2021.
On 5 January 2022, inventory was counted and valued at cost, $\$ 30000$.
The following was then discovered.
1 Goods purchased and received after the year end, costing $\$ 1500$, had been included in the valuation.
2 It included goods returned by a customer after the year end. They had a selling price of $\$ 900$ which included a mark-up of 25% during the year.
3 Some goods included in the inventory, costing $\$ 500$, were damaged. They can be sold for $\$ 300$ after repairs costing $\$ 100$.
Which value of inventory should be included in the financial statements at 31 December 2021?
$\$ 27480$
2 )
$\$ 27525$
3 )
$\$ 28275$
4 )
$\$ 29270$
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