The following transaction relates to ABC Ltd for the month of June 2020:

June 1.Opening balance 15 units @ $ 4.00 each

June 3Bought 20 units @ $6.00 each

June 7Sold 20 units @ 10 each

June 14Sold 4 units @ 12 each

June 18Bought 24 units @ 8 each

June 21Sold 20 units @ $15

June 28Sold 5 units @ 18 each

Required:

Calculate closing stock using the FIFO and AVCO

Prepare the trading account using both methods.