- NAKE Rwanda Ltd had the following
purchases and sales for the month of June
2017 for a commodity taxable at the standard
rate. The prices shown are inclusive VAT.
June 1, Purchased 200 units at Frw 2,800 per
unit
June 2, Sold 20 units at Frw 3,600 per unit
June 6, Purchased 150 units at Frw 3,200 per
unit
June 12, Sold 40 units at Frw 3,600 per unit
June 15, Sold 100 units at Frw 3,600 per unit
June 19, Sold 40 units at Frw 3,600 per unit
June 23, Sold 100 units at Frw 4,000 per unit
Opening stock at the beginning of the month
was 15 units valued at Frw
2,600 per unit. A physical count confirmed
that
Required: Prepare a VAT account?