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  3. (a) elikem (pty) ltd manufactured inventories at a

(a) Elikem (Pty) Ltd manufactured inventories at a cost of R10 000 (VAT included). The...

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Accounting

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(a) Elikem (Pty) Ltd manufactured inventories at a cost of R10 000 (VAT included). The inventories were sold for R15 000 (VAT included). If all inventory sales qualify as standard-rated supplies, determine the net VAT due to/ (refundable by) SARS. (b) Elikem (Pty) Ltd manufactured inventories at a cost of R15000 (VAT included). The inventories were sold for R25000 (VAT included). If all inventory sales qualify as zero-rated supplies determine the net VAT due to/ (refundable by) SARS. (c) Elikem (Pty) Ltd manufactured inventories at a cost of R12 000 (VAT included). The inventories were sold for R13000. If all inventory sales are exempt supplies for VAT purposes, determine the net VAT due to/ (refundable by) SARS

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