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Can you please estimate the cost of inventory during the year Partmate Pty Ltd is a retail business that sells car parts to customers who

Can you please estimate the cost of inventory during the year

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Partmate Pty Ltd is a retail business that sells car parts to customers who maintain their own cars. The company began business on 1 January and the acquisition of the inventory of car parts during the year involved the following amounts: Purchase price of merchandise $817 500 Goods and services tax on purchase of merchandise 81 750 Cost of inwards freight on merchandise 15 000 Trade discounts on merchandise 67 500 in addition to the cost of merchandise, the company incurred the following costs during the year. Cost Staff salaries: Purchasing staff $60 000 Sales staff 157 500 Delivery driver (part-time) 22 500 Rent 45 000 Equipment depreciation and insurance 7 500 Telephone 4 950 Computer software and hardware depreciation (inventory management system) 22 500 Data transfer (EDI order system) 9 000 Stationery and other consumables 4 500 Electricity 7 200

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