Question #1 (28 marks) An importer deals only in one commodity and has recorded the following transactions over a 5-month period Date Purchase Qty Gross value Date Sales Qty Sales value 1 Feb. 100 $ 30,000 15 Feb. 75 $30,000 25 Mar. 200 $ 64,000 20 May 350 $175.000 1 Apr. 300 $102,000 At the beginning of the period on January 1, 2020, there was an opening balance of 50 units, valued at $12.500. Required: (a) Prepare the stores ledger of the entity, using the AVCO and the FIFO method of pricing goods. (18 marks) (b) Prepare a trading account to show the gross profit for the period, using the FIFO method of valuation (5 marks) (c) Prepare a trading account to show the gross profit for the period, using the AVCO method of valuation