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Discuss various Constituents/Components of an Accounting Information System? ABC Enterprises presents before you following data regarding the purchase of some inventory from abroad; Purchase Price

Discuss various Constituents/Components of an Accounting Information System?

ABC Enterprises presents before you following data regarding the purchase of some inventory from abroad;

Purchase Price Rs. 1,500,000

Import Duty 25% of purchase price

Refundable Taxes 1/5 of purchase price

Non-refundable Taxes 2 times of Refundable Taxes

Transport-in Rs. 40,000

Transport-out of Transport-in

Handling Charges Rs. 10,000

Other Direct Expenses 50% of Transport-out

Other Indirect Expenses 10% of Refundable Taxes

Required: You are required to calculate the Cost of Inventory purchased?

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