Question 2 (15 marks) The information below shows data inventories bought and sold by Bright Star Sdn Bhd in Jun 2016. Date Particulars Units 10 Price Jun1 Inventory RM23 RM32 RM34 RM36 Sale 10 Sale Sale 108 Required: I 400 i. Assuming that perpetual inventory records are kept, determine the inventory at 30 Jun (7 marks) 3 marks) Periodic System and Perpetual System in inventory evaluation (5 marks) 2016 using weighted average system method. ii. Calculate the gross profit for the month of June. ii. Differentiate between system. Question 3 (15 marks) Nabil Sdn Bhd, a wholesaler, provided you with the following information: Year end 31 March Total debtors before bad debts (RM) Bad debt written-off during 2005 2006 21.400 23,000 the year (RM) 1,400 1,000 2007172001200 The allowance for doubtful debts was RM340 as 31 March 2004. It is the company's policy to provide for doubtful debts at the rate of 2% on the remaining total debtors Required: i. Prepare the allowance for doubtfiul debts account for the year ending 31 March 2005, 2006 and 2007 (7 marks) i. Show the statement of Financial Position (extract) as at 31 March 2007 (show all the 4 marks) 4 marks) ili. Distinguish between Discount Allowed and Discount Reccived