n the booklet provided, uestion 1 SECTION B , answer any TWO (2) questions from this section. Give a detailed definition of 'inventory', based on IAS2, Inventories. Use suitable examples to explain the following terms with regards to IAS 2, Inventories: i. Cost ii. Cost of purchase iii. Cost of conversion (6 marke (4 mar (6 ma (6 ma After a year-end stock take, closing inventory for CB Ltd at 2018 December 31, was valued at $243 510. It was discovered that this included $2 410 for items accidentally destroyed on 2019 January 03 and $1 540 which related to the cost of damaged inventory which can be reworked at a cost of $200 and which can then be sold for $1 230. Calculate the value of closing inventory to be reported in the financial statement of CB Ltd, for year ended 2018 December 31. Veritone (8 n Pegards to (Total 30 r (4 12 46