$6.$ Read the following information and answer questions that follow. $(7$ marks$)$

Tamapo$$s Trading account for the year ended $31$ December $2019.$

P P P

Sales $240,000\mathrm{.}00$

Opening Stock $16,000\mathrm{.}00$

Add Purchases $178,000\mathrm{.}00$

$194,000\mathrm{.}00$

Less Closing Stock $14,000\mathrm{.}00$

Cost of Goods Sold $180,000\mathrm{.}00$

Gross Profit $60,000\mathrm{.}00$

Required

To calculate the following ratios:

i$)$ Margin $(2$ marks$)$

ii$)$ Mark $-$ up $(2$ marks$)$

iii$)$ Rate of stock turnover $(2$ marks$)$

iv$)$ Gross profit as a percentage of sales $(1$ mark$)$

$7.$ The following are the balance, receipts and issues of stocks for Tamapo$$s

inventory for the month of January $2019.$

$1$ January $2019$ opening balance of $2,000\mathrm{.}00$ units at P$2\mathrm{.}02$ per unit

$15$ January $2019$ receipts of $10,000\mathrm{.}00$ units at P$2\mathrm{.}20$ per unit

$25$ January $2019$ issues of $8,000\mathrm{.}00$ units

Required:

Calculate the closing stock using the AVCO method of inventory valuation. $(5$ marks