A distraught employee, Guy Pirault-Manne, put a torch to a manufacturing plant on a blustery day, 26

Question:

A distraught employee, Guy Pirault-Manne, put a torch to a manufacturing plant on a blustery day, 26 February 2015. The resulting blaze completely destroyed the plant and its contents. Fortunately, certain accounting records were kept in another building. They revealed the following for the period from 1 January 2015 to 26 February 2015:
Direct materials purchased..............................................€3.2 million
Work in progress, 1 January 2015.........................................€680 000
Direct materials, 1 January 2015..........................................€320 000
Finished goods, 1 January 2015...........................................€600 000
Indirect manufacturing costs.............................40% of conversion costs
Revenues....................................................................€10 million
Direct manufacturing labour.............................................€3.6 million
Prime costs................................................................€5.88 million
Gross margin percentage based on sales.......................................20%
Cost of goods available for sale..........................................€9 million
The loss was fully covered by insurance. The insurance company wants to know the historical cost of the as one factor considered when negotiating a settlement.
Required
Calculate the cost of:
1. Finished goods stock, 26 February 2015.
2. Work-in-progress stock, 26 February 2015.
3 .Direct materials stock, 26 February 2015.
Stocks
Stocks or shares are generally equity instruments that provide the largest source of raising funds in any public or private listed company's. The instruments are issued on a stock exchange from where a large number of general public who are willing...