31 December 2016 - Reporting Date

5 March 2017 - Authorization Date

At its year end of 30 December 2016, Tabiyo Berhad held in inventories 4,000 handphones at a cost of RM500 per unit. The product had been selling well at RM750 each with selling costs of RM100 each. In January 2017, Tabiyo Berhad leamt that due to heavy competition, Tabiyo Berhad could only sell its product for RM550, with selling costs unchanged. Dikehendaki/Required empoh pelaporan mengikut ts aner ine Reporing Peng jurnal dan/atau penodedanan yang diperiukan. For each of the events above, determine the category ofevents after the reporting period and explain clearly the appropriate accounting treatment in accordarnce with MFRS 110 Events after the Reporting Period. Prepare any necessary journal entries and/or disclosures required. (9 markah/marks)