Alpha Ltd
 Date: 31 May 2024

Details:

1. Raw material inventory (synthetics):
   • Cost: £35,000
   • Replacement cost: £33,000
2. Finished goods inventory:

Product	Gamma	Delta
Direct costs	£70,000	£60,000
Proportion of fixed overhead	£20,000	£18,000
Proportion of selling costs	£5,500	£5,000
Net realizable value	£110,000	£90,000

3. Vehicles:
    Acquired on 1 June 2018 for £320,000, depreciated over 10 years using the straight-line method.
4. Buildings:
    Acquired 18 years ago for £2,800,000, land value estimated at £700,000. Buildings are depreciated over 55 years.
5. Research and development:
   • Research costs: £840,000
   • Development costs: £1,530,000, benefiting over 5 years.

Required:
 Analyze the financial statement impact of these items for Alpha Ltd as of 31 May 2024.