(b) Calculate the value of the closing stocks of finished goods at the end of the three－mo

(b) Calculate the value of the closing stocks of finished goods at the end of the three-month period, and the value

of cost of sales for the period. (3 marks)

(b) Opening stock of finished goods = ￡69,800Closing stock of finished goods = 2,000 x 18·66 = ￡37,320Cost of sales for three-month period = 69,800 + 2,262,380 – 37,320 = ￡2,294,860