THREE (30 MARKS) The following transactions occurred in the books of Pay n Pick limited for the month of April 2015: 1 April Purchases 10 April Purchases 15 April Sales 20 April Purchases 23 April Sales Additional Information: 10 000 units @ R1,20 12 000 units @ R1,50 25 000 R3,00 8000 R1,80 10 000 units @R3,30 The stock count at 31 March 2015 revealed that 10 000 units at a cost of R1 per unit were on hand. REQUIRED: 5.1 Calculate closing stock at 30 April 2015 using First in First out (FIFO). 5.2 Calculate Cost of sales at 30 April 2015. (20) 855 (5) 5.3 Calculate how much gross profit Pay n pick made in the month of April