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Inventory: July 31 2019 The following is a list of inventories on hand and the suppliers at the above date. Description Quantity on hand Item Code 6 5 4 LR SC PC Lighting Rig Smart Console Pro Console Last Cost Price $350 $550 $790 Last Supplier Sale Price $630 Stage Lights $825 DJ Rigs $825 $1150 Capital Console nsole Each of the above items of inventory are quoted net of GST. On each item, an additional 10% GST is charged on the sales price, and 10% GST paid on the cost price. Installations: July 31st 2019 Installation requires specialised knowledge, and Peat uses his casual employee (Ray Gibbsey) to complete all the installations. Peat charges customers $110 per hour for installations. This figure includes GST. Aug.4 Credit sales to Lakeview Lodge 3 x LR, 1 x PC. Lakeview Lodge also agrees to pay for installations for its sales. The agreed time is 4 hours of installations and will be completed within two days (Since the installation work will be done within two days, the installation transaction can also be accounted as income directly). Aug. 11 Sold 1 x SC for cash to a customer for a special price of $850 (Inc GST). The customer also paid cash for 2 hours of installations