After stocktaking for the year ended 31 May 2019 had taken place, the closing inventory of Cobden Ltd was aggregated to a figure of £87,612.

During the course of the audit which followed, the undernoted facts were discovered:

(a) Some goods stored outside had been included at their normal cost price of £570. They had, however, deteriorated and would require an estimated £120 to be spent to restore them to their original condition, after which they could be sold for £800.

(b) Some goods had been damaged and were now unsaleable. They could, however, be sold for

£110 as spares after repairs estimated at £40 had been carried out. They had originally cost £200.

(c) One inventory sheet had been over-added by £126 and another under-added by £72.

(d) Cobden Ltd had received goods costing £2,010 during the last week of May 2019 but, because the invoices did not arrive until June 2019, they have not been included in inventory.

(e) An inventory sheet total of £1,234 had been transferred to the summary sheet as £1,243.

(f) Invoices totalling £638 arrived during the last week of May 2019 (and were included in purchases and in trade payables) but, because of transport delays, the goods did not arrive until late June 2019 and were not included in closing inventory.

(g) Portable generators on hire from another company at a charge of £347 were included, at this figure, in inventory.

(h) Free samples sent to Cobden Ltd by various suppliers had been included in inventory at the catalogue price of £63.

(i) Goods costing £418 sent to customers on a sale or return basis had been included in inventory by Cobden Ltd at their selling price, £602.

(j) Goods sent on a sale or return basis to Cobden Ltd had been included in inventory at the amount payable (£267) if retained. No decision to retain had been made.

Required:

Using such of the above information as is relevant, prepare a schedule amending the inventory figure as at 31 May 2019. State your reason for each amendment or for not making an amendment.