2.1 Information: The following transactions of Heron Ltd took place during January 2022 in respect of component X used in production: Jan 01 Stock of component X on hand 150 units @ R24 per unit 08 Issued to production 110 units 12 Purchased from supplier 200 units @ R25 per unit 15 Returned to supplier (purchased on 12 January 2022) 30 units 18 Issued to production 170 units 25 Purchased from supplier 140 units @ R26 per unit 27 Issued to production 130 units Required: Calculate the value of closing inventory on 31 January 2022 using the: 2.1.1 First-in-first-out (FIFO) method (10 marks) 2.1.2 Weighted Average Cost Method

Information: The following transactions of Heron Ltd took place during January 2022 in respect of component X used in production: Kequired: Calculate the value of closing inventory on 31 January 2022 using the: 2.1.1 First-in-first-out (FIFO) method (10 marks) 2.1.2 Weighted Average Cost Method (10 marks)