Part A Gecko Ltd. sells a particular item of stock which had the following movements during 2016. Gecko uses a periodic inventory system: Required: a) Prepare the Cost of Goods Available for Sale schedule. (3 marks) b) Calculate the value for closing stock and Cost of Goods sold assuming: (a) FIFO is used (b) LIFO is used (5 marks) (c) AVCO is used 5 marks) (3 marks) Part B The periodic and the perpetual inventory systems are two methods that companies use to account for inventories. Briefly describe each system and explain why a physical inventory is necessary under both systems. (4 marks)