The newly appointed accountant of Ringwood Traders asked you to help him with thecalculation of the following transaction:Ringwood bought steel $(10000$ units$)$ from Unitrans and received an invoice for R$540000.$ Ringwood paid cash in order to make use of the $7\%$ cash discount offered by thesupplier. The steel was transported by rail for which Ringwood Traders paid R$35000.$Costs to insure the steel while in transit amounted to R$1000.$ On inspection of thesteel by the foreman, it was found that $1000$ units amounting to R$54000($before cashdiscount$)$ were damaged. Following negotiations with Unitrans, it was agreed that thesesteel units will be returned to the supplier.During the same month, Ringwood sold $4000$ units to Unilever Dealers on account. A $30\%$ mark$-$up on cost is applicable. It may be assumed that Ringwood Traders and Unitrans both make use of the perpetual inventory system.

$1.$ Calculate the cost per unit of the steel inventory. Show all calculations. Round off to the nearest Rand

$2.$Prepare the applicable general journal entry for the original payment made by Ringwood Traders to Unitrans. Journal narrations are not required.

$3.$ Prepare the applicable general journal entry for the $4000$ units sold to Unilver.