Exercise 7 (A) During its first month of operations, a business made purchases and sales as shown in the table below: Number of units purchased 100 Unit cost $1.00 Number of units sold 50 Date Jan. 5 Jan. 10 Jan. 15 Jan. 17 Jan. 24 Jan. 30 200 $1.10 150 300 $1.15 200 All sales were made at $2 each. Required Calculate the profit for the month and the stock value held at the end of the month using 1) the FIFO approach to the issue of units for sale, where: a) the calculation is carried out at the date of sale, and b) the calculation is carried out at the end of the month without regard for the date of sale; and 2) the LIFO approach to the issue of units for sale, where: a) the calculation is carried out at the date of sale, and b) the calculation is carried out at the end of the month without regard for the date of sale, and 3) the average-cost approach to the issue of units for sale, making the calculation at the end of the month without regard for the date of sale. Net realizable value $ 1,000 B 800 (B) A company has a stock of goods consisting of four different groups of items. The cost and net realizable value of each group is shown in the table below. Group of items Cost $ 1,400 1,000 2,100 1,900 3,000 3,100 Activate Windows Required Go to Settings to activate Windows Calculate the amount to be shown as the value of the company's stock. OO