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Ajinkya Electronic Systems, a company in India that manufacturers many different electronic products, has to purchase goods and services from a variety of suppliers (wire,
Ajinkya Electronic Systems, a company in India that manufacturers many different electronic products, has to purchase goods and services from a variety of suppliers (wire, diodes, light emitting diode (LED) displays, plastic components, etc.). The table below shows several suppliers and the value added tax (VAT) tax rates associated with each. It also shows the purchases (in $1000 units) that Ajinkya made (before tax) from each supplier in the previous accounting period. Assume Ajinkya's sales to end users were $9.2 million and Ajinkya's products carry a 13.5% value added tax (VAT). Supplier VAT Rate, % 4.0 12.5 11.5 21.3 32.6 Purchases by Ajinkya, $1,000 400 870 620 90 52 What was the total amount of VAT paid by Ajinkya to the suppliers? The total amount of VAT paid is determined to be $N
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