Fujitsu Ltd purchases inventory from DFO Ltd, a listed British company. Relevant events and the spot rates at each date are shown as follows: Date Event Spot rate 15 March 2019 Order £300,000 of...

Fujitsu Ltd purchases inventory from DFO Ltd, a listed British company. Relevant events and the spot rates at each date are shown as follows:
Date
Event
Spot rate
15 March 2019
Order £300,000 of inventory
A$1.00 = £0.37
11 May 2019
The purchase takes place as inventory shipped to Fujitsu Ltd (FOB)
A$1.00 = £0.41
30 June 2019
End of the financial year
A$1.00 = £0.43
02 July 2019
Inventory arrives at the warehouse
A$1.00 = £0.42
14 August 2019
Payment of £300,000 to supplier
A$1.00 = £0.39

Required:

a) Prepare appropriate journal entries for each relevant event. (Round amounts to the nearest dollar).
b) What is a qualifying asset? Provide two (2) examples.