Mediner Ltd. deals in a variety of goods in the month of September 2004, the Company accountant recorded the following transactions (exclusive of VAT):

      

Mediner Ltd. deals in a variety of goods in the month of September 2004, the Company accountant recorded the following transactions (exclusive of VAT):
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The accountant believes that the allocative method is the best in restricting the input VAT deductible against output VAT. The accountant is also of the opinion that on average, twenty percent of the standard rate purchases were sold as standard rate sales.

Required:
Compute the input VAT deductible against output VAT using the allocative method.

  

Answers


Wilfred
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Wilfykil answered the question on February 25, 2019 at 09:59


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