Your begin Question 2 the following transactions regarding stock item: Your firm has the following transactions Date January 12 February Particulars Opening inventory Sales Purchases Sales Purchases Sales Sales Purchases Sales Unit / Cost (RM) 20units @ RM20 each 12 units 15 units @ RM24 each 10 units 15 units @ RM26 each 17 units 8 units 15 units @ RM28 each 10 units March 2 April > May June Required: 2. Prepare stock record using the three (3) stock valuation methods of FIFO, LIFO and Weighted Average. b. Calculate the Gross Profit for each method, using a selling price unit of RM40. con the effect method on closing inventory values and profit times of rising prices