QUESTION 22.1REQUIREDUse the information given below to calculate the cost (as a percentage) to Nascar Retailers of notaccepting the discount.INFORMATIONZao Wholesalers offers Nascar Retailers credit terms of 30 days but allows a discount of 2.5% if the account issettled in full within 12 days.2.2REQUIREDUse the information provided below to calculate the value of the components issued to production duringSeptember 2020 and the value of closing inventory as at 30 September 2020 using the following methods ofinventory valuation:First-in-first-out (FIFO)Weighted average cost (with the weighted average cost per unit rounded off to the nearestcent).INFORMATIONThe following transactions of Fego Manufacturers took place during September 2020 in respect of acomponent used in production:DateTransactions01Opening inventory400 units @ R20 per unit11Purchased from a supplier1 200 units @ R21 per unit16Purchased from a supplier600 units @ R23 per unit17Retumed to the supplier (see 16th)200 units30Issued to production during September1 500 units

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QUESTION 2 2.1 REQUIRED Use the information given below to calculate the cost (as a percentage) to Nascar Retailers of not accepting the discount. INFORMATION Zao Wholesalers offers Nascar Retailers credit terms of 30 days but allows a discount of 2.5% if the account is settled in full within 12 days.

QUESTION 2 2.1 REQUIRED Use the information given below to calculate the cost (as a percentage) to Nascar Retailers of not accepting the discount. INFORMATION Zao Wholesalers offers Nascar Retailers credit terms of 30 days but allows a discount of 2.5% if the account is settled in full within 12 days.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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