QUESTION 3 (IAS 21) (10 Marks) Namibia power company Ltd (Nam power) is a provider of electricity power and has 30 September as its year-end. Its functional currency is Namibian dollar On 1 July 2016, Nam Power ordered goods from at a cost of 75 000. The goods were shipped on 16 July 2016 to the destination point and were received in Windhoek on 1 August 2016. The suppliers invoice was settled on 31 October 2016. The transactions were done on CIF basis. 15