Read the following information and answer questions that follow. marks

Tamapos Trading account for the year ended December

 

Sales

Opening Stock

Add Purchases

Less Closing Stock

Cost of Goods Sold

Gross Profit

Required

To calculate the following ratios:

i Margin marks

ii Mark up marks

iii Rate of stock turnover marks

iv Gross profit as a percentage of sales mark

The following are the balance, receipts and issues of stocks for Tamapos

inventory for the month of January

January opening balance of units at P per unit

January receipts of units at P per unit

January issues of units

  

 

Required:

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