During last month, Seeds Trust made the following sales and purchases of Seedlings July 01 Purchase 400 seeds $10 00 each July 08 Purchase 600 seeds $7 00 each July 19 Sold 500 seeds at $10 per unit July 26 Sold 200 seeds $11 per unit July 29 Purchase 600 seeds $3 00 Each July 31 500 seeds Sales Price $12 per unit A From the information given above calculate the closing stock using the method for i FIFO ii AVCO B Prepare the Trading Account for the period using FIFO and AVCO, clearly showing the Cost of Sales and the Gross Profit

Question

During last month, Seeds Trust  made the following sales and purchases of Seedlings  July 01 Purchase 400 seeds   $10 00 each July 08 Purchase 600 seeds   $7 00 each July 19 Sold 500 seeds at $10 per unit  July 26 Sold 200 seeds $11 per unit  July 29 Purchase 600 seeds   $3 00 Each July 31 500 seeds Sales Price $12 per unit A  From the information given above calculate the closing stock using the method for  i  FIFO ii  AVCO B  Prepare the Trading Account for the period using FIFO and AVCO, clearly showing the Cost of Sales and the Gross Profit

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During last month, Seeds Trust. made the following sales and purchases of Seedlings. July 01 Purchase 400 seeds @ $10.00 each July 08 Purchase 600

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