Phylis Ltd has the following transactions in respect of its goods during the month of Dec 2015.

Opening stock 78 units @ Gh 25

Dec 5 bought 250 units @ Gh 24

Dec 10 Sold 175 units @ Gh 95

Dec 11 bought 140 units @ Gh 26

Dec 12 sold 200 units @ Gh 48

Dec 15 paid for printing Gh 7,200

Dec 16 bought 400 units @ Gh20

Ded 22 Sold 140 units @ Gh 85

Dec 22 commission to sales Executives Gh 20,000

Dec 23 sold 155 units @ Gh 40

Dec 26 bought 120 units @ Gh 25

Additional information:

1. Cost of carriage materials inwards was agreed at Gh 12 per unit of materials
2. Out of the general administrative expenses of Gh 10,000 only Gh 2,900 had been paid during the month of December
3. The outstanding balance of Gh 7,100 was paid on the 20^th February, 2016.

You are required to:

1. Write up the stores ledger card using FIFO and LIFO method of stock valuation.
2. Prepare trading, profit and loss account for the period from 1^st Dec to 31^st Dec 2015 using method of stock valuation
3. Show the balance sheet extract as at 31/12/2015.