At 30 June 2021, Music World Ltd, a large business taxpayer which still uses the perodic...

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At 30 June 2021, Music World Ltd, a large business taxpayer which still uses the perodic inventory system, had the following stock on hand with the following values: Item Market Selling Replacement Value Cost Value Guitars $288,600 $214,700 $275,000 Pianos $670,400 $710,100 $692,600 Drum $188,900 $168,200 $144,900 sets Violins $314,600 $302,000 $338,900 Assuming that Music World Ltd wishes to minimise its taxable income for the year ended 30 June 2021, it should value its closing stock at: $1,332,000; $1,395,000; $1,451,400; $1,462,500. At 30 June 2021, Music World Ltd, a large business taxpayer which still uses the perodic inventory system, had the following stock on hand with the following values: Item Market Selling Replacement Value Cost Value Guitars $288,600 $214,700 $275,000 Pianos $670,400 $710,100 $692,600 Drum $188,900 $168,200 $144,900 sets Violins $314,600 $302,000 $338,900 Assuming that Music World Ltd wishes to minimise its taxable income for the year ended 30 June 2021, it should value its closing stock at: $1,332,000; $1,395,000; $1,451,400; $1,462,500.

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