Question-2 Prepare Store Ledger Card (SLC) form the following information on Jan 2017: 1. Opening Stock ......400 units @ Rs. 30. 2. Purchases...........200 units @Rs. 28. 15. Sales...............125 units @Rs. 50 21. Purchases. 80 units @Rs. 25. 27. Purchase ............100 units @ Rs. 32 29. Sales......... 30. Sales... Required ...Rs. 12,000 .Rs. 5,600 Rs. 6,250 .................Rs. 2,000 .Rs. 3,200 ...175 units @Rs. 48. ...Rs. 8,400 140 units @Rs. 55. .....Rs. 7,700 Determine the Cost of Sales, cost of Closing Stock and Gross profit under each of the following method by using periodic inventory system. 1. Cost are assigned on the basis of LIFO 2. Cost are assigned on the basis of Weighted Average