Inventive Controls Ltd At December 31, 2019, There Was No Work-In-Process, but 30

Inventive Controls Ltd. was incorporated and started business early in January 2019 to manufacture electronic control devices to monitor traffic. Inventive purchased a small manufacturing plant and office building in a new industrial park and was in operation immediately. General ledger account balances at December 31, 2019 are as follows:
$$\begin{array} { l | r | } \hline \text { Sales commission } & 62,000 \\\hline \text { Supervisory salaries, production manager } & 66,000 \\\hline \text { Executive salaries } & 120,000 \\\hline \text { Raw material purchases } & 136,500 \\\hline \text { Miscellaneous plant supplies } & 13,700 \\\hline \text { Depreciation, office building } & 7,900 \\\hline \text { Depreciation, plant equipment } & 9,900 \\\hline \text { Property tax (80\% for office building; 20\% for plant building) } & 4,400 \\\hline \text { Sales } & 850,000 \\\hline \text { Direct labour } & 64,000 \\\hline \text { Raw material inventory, Dec } 31,2019 & 13,600 \\\hline \text { Utilities expense (60\% related to office) } & 19,000 \\\hline \text { General administrative expense } & 42,300 \\\hline\end{array}$$ At December 31, 2019, there was no work-in-process, but 30% of the units manufactured remained in ending finished goods inventory. Inventive uses the straight-line method to calculate depreciation.
Required:
a. Calculate the value of cost of goods sold and ending finished goods inventory under IFRS.
b. Prepare an income statement for Inventive for the year ended December 31, 2019.