An importer deals only in one commodity and has recorded the following transactions over a 5-month period.

Date Purchase Qty Gross value Date Sales Qty Sales value 1 Feb. 100 $ 30,000 15 Feb. 75 $30,000 25 Mar. 200 $ 64,000 20 May 350 $175,000 1 Apr. 300 $102,000

At the beginning of the period on January 1, 2020, there was an opening balance of 50 units, valued at $12,500.

I am Required to (a) complete the stores ledger of the entity, using the AVCO and the FIFO method of pricing goods

(b) Do up a trading account to show the gross profit for the period, using the FIFO method of valuation.

(c) Do up a trading account to show the gross profit for the period, using the AVCO method of valuation.