Question to Blid was engaged in some transactions in the year 2018 in recorded the following purchase and sales MONTH NO OF UNITS UNIT PRICE VALUF (GHC) Jan 400 150 1000 Feb (GHC Mar 380 350 2.00 Apr 2.50 430 May 3.00 420 4410 760 375 1.290 LISS 1430 2.75 In Janu1.580 articles were sold for GH49.000. On I" January inventory in the company's books stood at GHC600.00. Within the same period there was a return outwards of GHC150.00 and a carriage inwards of GHC150.00. Some customers also returned goods worth GHC300 During the period BX Ltd ineurred the following expenses. Water GHC60.00. Electricity GHC40.00 and Repairs, GHC50,00 Determine the The value of closing inventory under FIFO Method (2 marks) TI The value of closing inventory under Average Cost Method (2 marks) Net Profit under the FIFO Method (4 marks) IV Net Profit under the Average Cost Method (4 marks) 1 Question to Blid was engaged in some transactions in the year 2018 in recorded the following purchase and sales MONTH NO OF UNITS UNIT PRICE VALUF (GHC) Jan 400 150 1000 Feb (GHC Mar 380 350 2.00 Apr 2.50 430 May 3.00 420 4410 760 375 1.290 LISS 1430 2.75 In Janu1.580 articles were sold for GH49.000. On I" January inventory in the company's books stood at GHC600.00. Within the same period there was a return outwards of GHC150.00 and a carriage inwards of GHC150.00. Some customers also returned goods worth GHC300 During the period BX Ltd ineurred the following expenses. Water GHC60.00. Electricity GHC40.00 and Repairs, GHC50,00 Determine the The value of closing inventory under FIFO Method (2 marks) TI The value of closing inventory under Average Cost Method (2 marks) Net Profit under the FIFO Method (4 marks) IV Net Profit under the Average Cost Method (4 marks) 1