On 31 December 2023, the end of the financial

year, Spaza Ltd had inventories on hand with a cost of R250 000. On this date

these inventories were written down to the net realisable value of R245 000. On

31 December 2024, 20% of the original inventory are still on hand. The net

realisable value of this remaining inventory has been estimated at

R55 000. 

Required:

The value of the closing inventory on hand at the end of the 2024

financial year, will be: