JD Traders had the following transactions regarding a particluar stock item for the month of June 2012. Date Transaction 1 June Opening stock 200 units at R15 each 5 June Sold 30 units 8 June Purchased 130 units at R18 each 20 June Sold 200 units 25 JunePurchased 270 units at R20 each 30 JuneSold 85 units 2.1 Prepare a stock ledger card using a weighted average cost method. Use following headings: Date Received Issued Balance 2.2 Calculate the following for the month of June: a) The cost of sales using the weighted average method b) the amount of gross profit if the firm applies to mark-up of 60% on cost price c)The total amount of sales; JD Traders had the following transactions regarding a particluar stock item for the month of June 2012. Date Transaction 1 June Opening stock 200 units at R15 each 5 June Sold 30 units 8 June Purchased 130 units at R18 each 20 June Sold 200 units 25 JunePurchased 270 units at R20 each 30 JuneSold 85 units 2.1 Prepare a stock ledger card using a weighted average cost method. Use following headings: Date Received Issued Balance 2.2 Calculate the following for the month of June: a) The cost of sales using the weighted average method b) the amount of gross profit if the firm applies to mark-up of 60% on cost price c)The total amount of sales
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