Abeer runs a shop selling mobile phones and computer accessories.

She has the following transactions during the month of January, 2019

Bought	Sold
January 1 - 120 units at $ 14 each January 5 - 80 units at $ 16 each January 15 - 100 units at $ 18 January 25 - 150 units at $ 20 each	January 8 - 125 units at $ 22 each January 20 - 100 units at $ 25 each January 31 - 200 units at $ 30 each

Abeer has heard that there are many methods of valuation of Inventory. She wants to know the value of her inventory using the FIFO and AVCO method. She also wants to know her gross profit.

You are required to:

(a) Calculate value of closing stock using FIFO and AVCO method (6 Marks)

(b) Calculate the gross profit for the month of January, 2019. (4 Marks)