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Determine the vat payable for the month of october

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Reference no: EM132746230

Question: Bobs Bookstore (VAT registered) is engaged in the business of selling books, school supplies and gift items. The following were provided to you during the month of October (inclusive of VAT if applicable):

Sale of school supplies 1,680,000

Sale of books 1,200,000

Sale of gift items 1,008,000

Purchase of school supplies and gift items for sale 1,344,000

Purchase of books 600,000

Purchase of computers used in vatable and non-vatable transactions 448,000

Purchase of office supplies used in vatable and non-vatable transactions from non VAT registered suppliers 200,000

Required: Determine the VAT Payable for the month of October.

Reference no: EM132746230

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