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QUESTION 1 Aboagyewaa Ltd has the following transactions in respect of its goods during the month of Dec 2019. Opening stock 78 units @ GH25

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QUESTION 1 Aboagyewaa Ltd has the following transactions in respect of its goods during the month of Dec 2019. Opening stock 78 units @ GH25 Dec 5 bought 250 units @ GH25.5 Dec 10 sold 175 units @ GH495 Dec 11 bought 140 units @ GH27.5 Dec 12 sold 200 units @ GH 48 Dec 16 bought 400 units @ GH21.5 Dec 22 sold 140 units @ GH485 Dec 22 commission to sales Executives GH4 20,000 Dec 23 sold 155 units @ GH40 Additional information; i. Out of the general administrative expenses of GH15,200 only GH3,700 had been paid during the month of December ii. The goods sold on December 23 only 1/5 has been collected by the company as at close of the year You are required to: a. Write up the stores ledger card using weighted average method of stock valuation. 9marks b) Prepare trading, profit and loss account for the period from 1" Dec to 31" Dec 2019 using the weighted average method of stock valuation 6 marks (Total = 15marks)

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