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Ian Wright buys, repairs and sells laptops, televisions and other electrical appliances under the business name lan's Bargains which is not registered as a VAT
Ian Wright buys, repairs and sells laptops, televisions and other electrical appliances under
the business name lan's Bargains which is not registered as a VAT vendor. lan uses the
periodic inventory system to record trading activity.
The following information was provided for the year ended February :
Additional Information:
Physical stock take determined that inventory at March was valued at R
Ian took a television set and a laptop computer from stock on December valued
at R This transaction must still be recorded.
Required
Prepare the trading section of the statement of comprehensive income for the year
ended February
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