INVENTORIES-QUESTIONS FROM BBP REVISION KIT

Hi OT, please help me to solve these two questions from bpp revision kits
1) The inventory value for the financial statements of Global Inc for the year ended 30 june 20×3 was based on a inventoory value of 950,000.
Between 30 june and 7 july 20×6, the following transactions took place.
$
purchaSe of goods 11,750
sale of goods ( mark up on cost at 15%) 14,950
Goods returned by Global Inc to supplier 1,500

What fiqure should be included in the financial statements for inventories at 30 june 20×3?

A $ 952,750
B $ 949,750
C $ 926,750
D $ 958,750
Ans A

2) The closing inventory at cost of a company at 31 january amounted to $ 284,700.
The follwing items were included at cost in the total

1 ) 400 coats, which had cost $ 80 each and normally sold for $ 150 each. owing to a defect in manufacture,they were all sold after reporting date at 50% of their normal price. selling expenses amunted to 5% of the proceeds.

2) 800 skirts, which had cost $ 20 each.These too were found to be defective.Remedial work in February 20×3 cost $ 5 per skirt, and selling expenses for the batch totalled $ 800. They were sold for $ 28 each.
What should the inventory value be according to IAS 2 inventories after considering the a bove items?
A $ 281,200
B $ 282,800
C $ 329, 200
D none of these
Ans A

A