Well Wear Limited is a Textile Manufacturing Company and engaged in the production of Polyester (P) and Nylon (N). While manufacturing the main products, a by-product Fiber (F) is also produced. Details of the cost of production are as under: Purchase of Raw Material for manufacturing process of 30,000 units ₹3,50,000 Wages paid 1,60,000 Fixed overheads ₹1,20,000 Variable overheads ₹60,000 Output: Polyester (P) 12,500 Units Nylon (N) 10,000 Units Fiber (F) 3,200 Units Closing Inventory: Polyester (P) 1,600 Units Nylon (N) 400 Units Average market price of Polyester and Nylon is ₹ 100 and ₹60 per unit respectively, by-product Fiber is sold @ ₹ 40 per unit. There is a profit of ₹8,000 on sale of by-product after incurring separate processing expenses of ₹ 10,000 and packing charges of ₹9,000. ₹5,000 was realized from sale of scrap. On the basis of the above information, you are required to compute the value of closing inventory of Polyester and Nylon.