Gecko Ltd. sells a particular item of stock which had the following movements during 2016. Gecko uses a periodic inventory system: 4th February Purchase 6th March Purchase Sale Purchase Sale 8th May 9th Oct 1st Dec 40 @$10 20 @ $12 22 @$30 10 35 (a) FIFO is used (b) LIFO is used (c) AVCO is used @$15 @$28 Required: a) Prepare the Cost of Goods Available for Sale schedule. b) Calculate the value for closing stock and Cost of Goods sold assuming: (3 marks) (5 marks) (5 marks) (3 marks)