Owner removes goods for personal use

Hi Professor, I need some help with these questions as I’m a bit confused.

Scenario:
During the year, Alex, the owner of a retail store, took home a set of headphones for personal use. The cost of the headphones to the business was £200, and they would have been sold for £300.

Task:

Determine the amount Alex needs to add back to the business accounts for the headphones.
If Alex had already accounted for the cost of the headphones in the business accounts, what would be the amount to add back?

For question one, I believe Alex needs to add back the lost profit of $100 to the business account for the headphones.
For question two, since Alex has already accounted for the cost of the headphones, I think the $300 market value should be added back. Am I on the right track?

Thank you!