SECTION B:ATTEMPT ANY ONE (1) QUESTION ONLY QUESTION ONE On 1 January Mr Chisakulo started a small business selling a special yarn. He invested his savings of K40 000 in the business and during the next six months the following transactions occurred: Yarn Purchases Total sales quantity (box) 500 Total value 25 000 27 000 15 200 quantity (box) 200 400 600 Date of despatch 10 Feb Date of cost receipt 13 Jan 8 Feb 11 Mar 12 Apr 7 200 15 200 24 000 14 DOD 14 000 20 Apr 600 500 25 June 400 15 June 400 The yarn is stored in premises Mr Chisakulo has rented, and the closing stock of yarn, counted on 30 June was 500 boxes.Other expenses incurred, and paid in cash, du month period amounted to K2300 Required (a) Calculate the value ot the material Issues during the six-month period, and the value of the closing stock at the end of June, using the following methods ring the six- of pricing (i) first in, first out (ii) last in, last out (ii) weighted average (calculations to two decimal places ority). (10 marks) (b) Calculate and discuss the ettect each of the three methods of material pricing will have on the reported profit of the business, of the business during the first six-month period and examine the performance (14 marks)