1. Assume Thakkar uses moving average perpetual. Calculate the cost of ending inventory, cost of goods sold, gross profit, GP%, and markup %
2. Assume Thakkar uses FIFO periodic. Calculate the cost of ending inventory, cost of goods sold, gross profit, GP%, and markup %
3. Prepare journal entries to record the April 12 purchase and the April 30 sale using Moving Average perpetual. Assume all transactions were on account.

3) 25 marks Thakkar Company opened a new store in February this year. During the first year of operations, the company made the following purchases and sales: \begin{tabular}{|l|r|r|r|r|} \hline Purchases & & \multicolumn{2}{|c|}{} \\ \hline Date & Units & Coles \\ \hline Feb. 9 & 20 & Cost/unit & Date & Urits \\ \hline Apr. 12 & 25 & 100 & Apr. 30 & 35 \\ \hline July 18 & 30 & 120 & Nov. 12 & 50 \\ \hline Oct. 26 & 40 & 130 & & \\ \hline \end{tabular}