Beta Inc.
 Date: 30 June 2023

Details:

1. Raw material inventory (rubber):
   • Cost: £25,000
   • Replacement cost: £27,000
2. Finished goods inventory:

Product	Omicron	Pi
Direct costs	£60,000	£50,000
Proportion of fixed overhead	£14,000	£12,000
Proportion of selling costs	£3,500	£3,000
Net realizable value	£90,000	£75,000

3. Vehicles:
    Acquired on 1 July 2018 for £300,000, depreciated over 10 years using the straight-line method.
4. Buildings:
    Acquired 15 years ago for £1,500,000, land value estimated at £450,000. Buildings are depreciated over 50 years.
5. Research and development:
   • Research costs: £130,000
   • Development costs: £170,000, benefiting over 5 years.

Required:
 Determine the appropriate accounting treatment for these items in Beta Inc.'s financial statements as of 30 June 2023.