Question 2 Vernon's first six months of trading showed the following purchases and sales of stock: 2016 January 3 Purchased 280 units @ $65 each February 18 Sold 140 units @ $82 each March 2 Purchased 100 units @ $69 each April 25 Sold 190 units @ $85 each May 10 Purchased 220 units @ $72 each June 11 Sold 200 units @ $90 each Other expenses for the period were $5,500. REQUIRED: A. Calculate the value of closing stock, using the following methods: i. First In, First Out (FIFO) (7 marks) ii. Weighted Average (AVCO) (7 marks) B. Calculate Abigail's profit for the six months ended June 30, 2016, using: i. FIFO ii. AVCO (6 marks)