Prepare the March 2016 Statement of Profit/Loss(extract) showing amounts for first-in-out(FIFO) and weighted average cost (AVCO) methods respectively.

2. ABC Trading Enterprise sells computer accessories. For the month of March 2016, the business shows the following inventory records: Date Particulars Quantity (units) Unit cost 1.3.2016 50 15.00 Opening inventory Purchase 5.3.1016 60 14.00 9.3.2016 Purchase 80 12.00 15.2.2016 Purchase 100 10.00 28.3.2016 Purchase 40 15.00 The business has incurred operating expenses for the month of March 2016 amounting to RM300 and a total sales of 264 units on 30.3.2016. All sales are marked-up by 25%. The business adopts the periodic inventory system in its inventory valuation