JKL Traders has the following figures for the month of May 2018 in two categories (20 marks) A B Sales to the public at manufacturer' recommended list price A- 60,000 B- 140,000 Trade discount allowed to retailers A- 20% B- 25% Total expenses as a percentage of Sales A- 10% B- 10% Annual rate of inventory turnover A -12 B- 20 Calculate: i.Cost of goods sold ii.Gross profit iii.Total expenses iv.Net Profit v.Average inventory at cost, assuming that sales are distributed evenly over the year, and that there are twelve equal months in the year.