Question 4 [24] You are provided with the following information relating to Alpha Stationery Shop for the year ended 28 February 2019. The business uses the periodic inventory method. A. Trading stock was valued as follows: R245 000 on 1 March 2018 R302 000 on 28 February 2019 B. Goods purchased on credit during the year, R960 000. Goods returned to suppliers, R26 000. Carriage paid to KZN Deliveries during the year: Goods delivered to Alpha Stationery Shop, R35 000 Goods delivered to customers, R22 000 One supplier, Penguin Paper, admitted that an error had been made on an invoice for goods delivered during the year. The invoice stated that a 10% trade discount had been granted. The amount of the invoice, R37 800, is included in the figure mentioned in B above. Penguin Paper agreed that a 25% trade discount should have been granted. Penguin Paper issued a credit note for the appropriate amount. Goods comprising gold-plated pens were imported from Top Notch Pens in the USA. Payment of 6 000 US dollars was made to Top Notch Pens immediately. The exchange rate is R9.00 to a US dollar. Alpha Stationery Shop also paid R4 800 to FedEx to transport the pens. Customs duty on these goods was levied at 40% and this was paid to SARS when the goods arrived in the country. G. The owner, Alan Alpha, took goods costing R3 200 for personal use. H. Goods were sold during the year for R1 532 900. E. Required 4.1. Prepare the Trading account. Show workings in brackets. 4.2. Calculate the cost of sales. Show all workings. 4.3. Calculate the markup percentage achieved. (15) (6) Question 4 [24] LEDGER OF ALPHA STATIONERY SHOP FINAL ACCOUNTS SECTION TRADING ACCOUNT 2019 Feb 2010 Fete 28 (15) Calculate the cost of sales. Show ALL workings. Calculate the markup percentage achieved