QUESTION FIVE For several years, Berry Limited has marked its purchases up by 33.33% and has fire for R40 000, the policy being subject to the average clause. A fire took place on 25 September and all inventory was destroyed except for items which had cost R10 000 which were salvaged in an undamaged condition. The following information was obtained from the firm's ledger: Inventory on hand at cost - 1 January Purchases - 1 January to 25 September Sales - 1 January to 25 September IR 48 000 182 000 240 000 The business has a financial year which ends on 31 December. Required: 5.1 Calculate: 5.1.1 Cost of the inventory destroyed in the fire. (5) 5.1.2 The amount to be claimed from the insurance company. 1 (2) 5.1.3 Calculate the amount of inventory destroyed and the amount of the insurance (8)