QUESTION $-$ IAS $2$ Inventory $-$ Journals $(20$ marks$)(24$ minutes$)$

A manufacturing entity, Marty Ltd provides the following information of purchases and payments with regards to inventory for the year ended $31$ December $2022$

Opening Inventories $-1$ January $2022$

$\backslash$table$[[$Raw Materials,$200000],[$Packaging materials,$10500],[$Work in progress,$75000],[$Finished goods,$350000]]$

The following production cost incurred during the year is as follows:

Raw material purchases $q,$

Transport costs $-$ raw materials $q,$

Fixed production overhead costs incurred...... Variable production overhead costs incurred. $R$

$585000$

$2400$

$350000$

$295000$

Closing stock $-31$ December $2022$

$\backslash$table$[[,\backslash$table$[[$Net$],[$Closing$],[$realisable$],[$value$]]],[$Raw materials.,$R$