Jethro sells an extensive range of children’s toys. He likes to be well informed at all times about the performance of his business. Part of the routine work of his administrative assistant is to draw up a monthly trading account so that Jethro can check on gross profit levels. Information about sales and purchases relating to a three-month period, October-December 20X2, is as follows:

138 | SECTION 2. FINANCIAL ACCOUNTING HES AS Hole October November December

£ £ £

Sales 39 370 48 998 56 306 Purchases 37 085 40 830 69750)

Stocks at the beginning of October are valued at £30 863. Stocks at the end of each of the three months are as follows: October £43 258; November 53 190;

and December 23 980.

Draw up a trading account for Jethro’s business for each of October, November and December 20X2.