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CAN I HAVE FURTHER CALCULATION ASSISTANCE ON 1.4-1.6 Transactions Purchase / sales price per unit excluding VAT (Rand) 2 November 2023 .240 laptops purchased on

CAN I HAVE FURTHER CALCULATION ASSISTANCE ON 1.4-1.6

Transactions Purchase / sales price per unit excluding VAT (Rand) 2 November 2023 .240 laptops purchased on credit 125 .07 November 2023 .300 laptops purchased in cash 1 400. 10 November 2023 250 laptops sold on credit 1 750 .15 November 2023. 20 laptops purchased on credit (refer to note 2) 1 350 .17 November 2023 .200 laptops sold in cash 1 800 .21 November 2023. 90 laptops purchased on credit (refer to note 2) 1 300 Note 1: Opening inventory and cost per laptop There were 115 laptops on hand on 1 November 2023 with a purchase price of R1 255 each, including VAT, before any discounts and additional costs. The cost price of the 115 laptops was paid for within 10 days of delivery and therefore re- ceived a 2% settlement discount (refer to note 2). Additional costs are incurred by the company with each laptop purchased for resale These additional costs include: Rand (including VAT) Administration cost per unit 145 Transport cost per unit 115 Distribution cost per unit 52 Selling and marketing cost per unit 33 Storage cost per unit 22 Note 2: Settlement terms The supplier of the laptops offers Computerworld (Pty) Ltd a 2% settlement dis- count if payment is made within 10 days of delivery. The normal credit terms with the supplier are 30 days. Computerworld (Pty) Ltd has a payment history of paying the supplier within three days of the laptops being delivered. All purchases made during November 2023 were paid for within 10 days of delivery, except the purchases made on the 15th and 21st of November 2023. The purchase made on the 15th of November 2023 is payable on 15th of June 2024. The prevailing interest rate on similar debt is 10% per annum. The purchase made on the 21st of November 2023 was paid for on the 3rd of December 2023. Note 3: Additional information: Value-added Tax (VAT) is applied at a rate of 15%. A stock count was conducted on the 30th of November 2023 and revealed the fol- lowing stock items were on hand: Laptop model Units Pro-line V1 315 Computerworld (Pty) Ltd uses the perpetual system to record inventory movements according to the first-in-first-out method. REQUIRED: 2.Discuss and calculate in terms of IAS 2 Inventories what the additional cost per laptop will be. Reasons to support your inclusion or exclusion of an amount should be provided.(6 marks) 3.Calculate the cost price of the laptops sold on the 10th of November 2023.(15 marks) 4.Calculate the cost price of the laptops sold on the 17th of November 2023.(10 marks) 5.Prepare the general journal entries to account for all the laptops sold during the month of November 2023. Note: All the calculations performed in 1.1,1.3 and 1.4 will be used in your response. Journal dates and narrations are not required.(6 marks) 6.Prepare the general journal entries to account for the purchase of laptops made on the 15th of November 2023. Only general journal entries relating to the month of November 2023 are required. Journal dates and narrations are not required.(15 marks)

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