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Divine Ltd Divine Ltd is a retailer of computer accessories. The entity applies the...

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Accounting

Divine Ltd
Divine Ltd is a retailer of computer accessories. The entity applies the perpetual inventory system. On 01 January 2024 they had 150 units in stock costing R180/unit.
\table[[Date,],[Jan 10,200 units purchased at R185 each],[Jan 12,220 units/aold at R300 each],[Jan 15,280 units purchased at R190 each],[Jan 16,50 units bought on the 15 returned to supplier],[Jan 20,160 units sold at R310 each],[Jan 25,320 units bought at R200 each],[Jan 28,500 units sold at R350 each]]
Required
Use the First in First Out Method to determine the gross profit for the period
(10 Marks)
Note: Use the following template to present your inventory cost card details Inventory Stock Card January 2024
\table[[Date,Purchases,Cost of Sales,Balance],[20,2 units R10= R20,,2 Units R10=R20
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