Required

1. Journalise the October transactions using a periodic inventory system.

2. Using T accounts, enter the beginning balances in the ledger accounts and post the October transactions.

3. Prepare a trial balance as at 31 October 2019.

4. Journalise the closing entries.

5. Prepare a statement of profit or loss up to gross profit, assuming inventory on hand at 31 October is $3600.

E5.5 Prepare a statement of profit or loss. Presented here is information related to Djuric Ltd for the month of January 2019 14300 Freight-in Rent expense -store space -office space 14 300 14 300 10010 Freight-out Salary expense -sales -office Insurance expense Discount allowed Purchases Sales returns and allowances Sales Purchase returns and allowances 30 030 57 200 17 160 11 440 286 000 18 590 446 160 12 870 Beginning inventory was $60 060, and ending inventory was $90 090 Required Prepare a fully classified statement of profit or loss for Djuric Ltd