As at 30 June 2022, Bear Bhd. (Bear) purchased 5 units of wooden tables for RM1,000 each. Bear incurred import duties of RM600 as well as transport and handling costs of RM350 on the purchase. Additionally, the company has received a 5% rebate on the total purchase. Bear intends to sell the wooden tables for RM2,000 per unit. The total estimated costs to sell the wooden tables is RM600. 

Required: In accordance with IAS 2/MFRS 102 Inventories, determine the value of the inventory of wooden tables purchased on 30 June 2022. (8 marks)

Answer rating: 100% (QA)

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