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Q1:(10 marks) The accounting department of MNO Limited (MNO) provides two sets of data for June. The first data relates to the purchase, and the second data relates to the sales. Question 1 Table 1. The First Set of Data - Purchases 1st June 6th June 11th June 19th June 28th June The following data relates to the sales: ANSWER b: 1185 units @ 9 711 units @ 10 474 units @ 12 1185 units @11 158 units @ 13 Table 2. The Second Set of Data - Sales 9th June 237 units @ 13 14th June 1422 units @ 13 24th June 553 units @ 15 Required: Based on the above information, calculate the following for the month of June 20X0: a) Cost of goods sold (COGS) (4 Marks) ANSWER a: (answer box will enlarge as you enter your response) b) cost of closing inventory (3 Marks)See Answer

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