Company A is using allowance method for recording valuation updates of inventory for preparation of financial statements. At the end of year N, the ending value of inventories was 37,000 TL with an estimated selling price 42,000 TL and 4,000 TL selling costs. At the end of year N+1, the ending value of inventories was 35,000 TL with an estimated selling price 32,000 TL and 1,000 TL selling costs. At the end of year N+2, the ending value of inventories was 38,000 TL with an estimated selling price 40,000 TL and 3,000 TL selling costs.

Indicate the followings:

1- At what value will the inventory be reported in Statement of Financial Position at the end of year N?

2- At what value will the inventory be reported in Statement of Financial Position at the end of year N+2?

3- What is the ending balance of allowance for inventory at the end of year N?

4- What is the ending balance of allowance for inventory at the end of year N+1?

5- What is the ending balance of allowance for inventory at the end of year N+2?

6- What is the value of impairment loss for inventory at the end of year N+1?