A Namibia company, ABC Ltd$,$ received an order of $$100000$ from an American import

company, to ship goods free on board $($FOB$)$ to America on $30$ June $2020.$ Payment of $$50000$ was made on $30$ September $2020$ and the balance was paid on $31$ January $2021.$

The company ordered raw materials from the United Kingdom for an amount of $20000.$ Payment for the raw material was made on $31$ May $2020.$ The raw material was shipped FOB on $1$ April $2020.$

The year$-$end of the company is $31$ December. $20\%$ of the raw material bought from the UK company was still on hand at year$-$end, and was used during January $2021.$

Applicable exchange rates were as follows:

$$1=$ N$ $1=$ N$

$01$ April $20205,009,00$

$30$ April $20205,109,10$

$31$ May $20205,159,15$

$30$ June $20205,209,20$

$30$ September $20205,359,35$

$31$ December $20205,409,40$

$31$ January $20215,309,30$

$31$ December $20215,459,45$