UNIT $3\_$ACTIVITY $2$ QUESTION

Golfing World is a retail entity that sells golf clubs and golf balls. The business entity applies the periodic inventory system. Golfing World and all of its suppliers are registered VAT vendors and VAT is charged at a rate of $15\%.$

INFORMATION:

Inventory is valued according to the following methods:

Golf clubs: First$-$in$-$first$-$out method $($FIFO$)$

Golf balls: Weighted average method

Inventory valuations $($excluding VAT$)$ at the beginning and end of the accounting period:

$\backslash$table$[[,$GOLF CLUBS,GOLF BALLS$],[,$Units,$\backslash$table$[[$Cost per$],[$unit $($R$)]],$Value $($R$),$Units,$\backslash$table$[[$Cost per$],[$unit $($R$)]],$Value $($R$)],[1$ March $2023,90,800,00,72000,1200,9,60,11520],[28$ February $2024,205,?,189250,550,?,?$