For which of the following statements is it not possible to arrive at an answer due to information missing from the question: (i) Clapton Itd, with a 31 st Dec year-end, bought a vehicle (non-current asset) for 12,000 on 1 st January 2013. The vehicle, with a residual value of 2,000, is depreciated annually using the reducing balance method over its useful life of 5 years. The asset is sold on 31st Dec 2017 for 3,000. Compute the profit or loss made from the disposal of the vehicle. (ii) Peterson Itd has a 31st December year-end. In 2016, its first year of operations, it bought inventory of 350,000 on credit and 100,000 in cash. The closing inventory as of 31 st December 2016 was 200,000. Compute the cost of goods sold for 2016. Select one: a. (ii) b. (i) and (ii) c. There is no information missing from statements (i) and (ii) and it is possible to arrive at an answer for both statements. d. (i)
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