Divine Ltd

Divine Ltd is a retailer of computer accessories. The entity applies the perpetual inventory system. On $01$ January $2024$ they had $150$ units in stock costing R$180/$unit$.$

$\backslash$table$[[$Date$,],[$Jan $10,200$ units purchased at R$185$ each$],[$Jan $12,220$ units$/$aold at R$300$ each$],[$Jan $15,280$ units purchased at R$190$ each$],[$Jan $16,50$ units bought on the $15$ returned to supplier$],[$Jan $20,160$ units sold at R$310$ each$],[$Jan $25,320$ units bought at R$200$ each$],[$Jan $28,500$ units sold at R$350$ each$]]$

Required

Use the First in First Out Method to determine the gross profit for the period

$(10$ Marks$)$

Note: Use the following template to present your inventory cost card details Inventory Stock Card January $2024$

$\backslash$table$[[$Date$,$Purchases,Cost of Sales,Balance$],[20,2$ units $$ R$10=$ R$20,,2$ Units $R10=R20$