Algis

on 30 April, 2014 Algis’s closing inventory was counted and valued at cost of $1.46m. somee items of inventory that had cost $140k had been damaged in a fire during march and r not expected to achieve their normal selling price wc is calc by adding a standard markup of 40%. the sale of these goods will be handled by an agent who is expecting to sell them for 75% of the normal selling price and will charge Algis a sells commision of 20%. at what value will the closing inventory be recorded?