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The following trial balance relate to Net Services Limited (NSL) as at 31 December 2022: The following notes are relevant: moclpe-1 (i) Among other businesses, NSL acts as an agent distributing handsets for Tami Limited (Tami). NSL sells handsets to customers and signs these customers up to service agreements with Tami. Customers contact Tami directly if the handsets are faulty. Tami pays NSL a commission fee for each handset sold with a signed service agreement. A total commission fee of $4.5 million has been earned in the year 2022, but not recognised in the general ledger of NSL. Sales revenue of $39.2 miliion and cost of goods sold of $34.7 million have been recognised instead.3h_td resord cownussies io Hewe (ii) After a physical stocktake conductod on 15 February 2023, NSL discovered the carrying amount of inventories on 31 December 2022 includes the following: Verpery SFav- - Inventory with a carrying amount of $500,000 on 31 December 2022 was discovered to be obsolete and NSL estimated the selling price to be 40% of its cost Ng, Nio 200,00 - On 28 January 2023, a fire destroyed a significant portion of inventories which had a carrying amount of $570,000 on 31 December 2022 . Wy. buct su fuin, - Investigations revealed an error was made on 31 December 2021 that the inventories were overstated by $70,000. Any write-down should be recognised as cost of sales

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