QUESTION ONE The following information relates to Stimulus Traders: Balance at 31 December 2012 Trading inventories on 01 January 2012 Trading inventories on 31 December 2012 Inventory of stationary on 31 December 2012 Sales Purchase Sales Returns Purchases Returns Freight on purchases Freight on sales Import duty R 15 000 12 000 1 500 166 000 90 000 3 000 5 500 3.000 10 000 1 000 (30 MARKS) Additional information: The owner took goods worth R2 500 for personal use. This transaction had not been recorded. Required: 1.1. Calculate Cost of Sales. 1.2. Calculate Gross Profit.