Largo Co began operations on 1 June to supply potting compost to garden centres. During the first month, the following transactions took place. (Click here to view the information.) The business employs the AVCO method of inventories costing. Calculate for June: The cost of closing inventories = (Type an integer.) The cost of goods sold = (Type an integer.) The gross profit = (Type an integer.) More info June Purchased/sold Tonnes Selling price/cost per tonne 5 Purchased 450 30 11 Purchased 850 34 19 Purchased 250 38 28 Sold 1,100 60