21 REQUIRED Use the information given below to calculate the value of closing inventory as at 30 September 2019 and the value of issues/transfers to the production department during September 2019 using the: 2.1.1 First-in-first-out (FIFO) method (5 marks) 2.12 Weighted average cost method. (5 marks) INFORMATION The following information for September 2019 was extracted from the records of Santini Limited, a manufacturing company, for an inventory item used in production: Date 01 04 08 13 27 30 Transactions Opening inventory: 3 000 units @ R18 each Invoice received for 22 000 units @ R19 each Returned 5 000 damaged units (purchased 04 September 2019) to the supplier Invoice received for 25 000 units at R20 each Invoice received for 5 000 units @ R21 each Transferred 44 000 units to the production department during September 2019 Santini Limited uses the periodic inventory system. 22 REQUIRED Study the information given below and calculate the cost (as a percentage) to Hillary Stores of not accepting the discount. (5 marks) INFORMATION Sandton Wholesalers' credit terms to Hillary Stores are 30 days but the supplier is prepared to allow a 242% rebate if Hillary Stores pays the account within 15 days. 23 REQUIRED Use the information provided below to calculate the annual Economic Order Quantity (EOQ). (5 marks) INFORMATION Harrods Traders purchases a product which has a monthly demand of 12 000 units. The cost to place an order is R10 and the holding cost is R2 per unit. 21 REQUIRED Use the information given below to calculate the value of closing inventory as at 30 September 2019 and the value of issues/transfers to the production department during September 2019 using the: 2.1.1 First-in-first-out (FIFO) method (5 marks) 2.12 Weighted average cost method. (5 marks) INFORMATION The following information for September 2019 was extracted from the records of Santini Limited, a manufacturing company, for an inventory item used in production: Date 01 04 08 13 27 30 Transactions Opening inventory: 3 000 units @ R18 each Invoice received for 22 000 units @ R19 each Returned 5 000 damaged units (purchased 04 September 2019) to the supplier Invoice received for 25 000 units at R20 each Invoice received for 5 000 units @ R21 each Transferred 44 000 units to the production department during September 2019 Santini Limited uses the periodic inventory system. 22 REQUIRED Study the information given below and calculate the cost (as a percentage) to Hillary Stores of not accepting the discount. (5 marks) INFORMATION Sandton Wholesalers' credit terms to Hillary Stores are 30 days but the supplier is prepared to allow a 242% rebate if Hillary Stores pays the account within 15 days. 23 REQUIRED Use the information provided below to calculate the annual Economic Order Quantity (EOQ). (5 marks) INFORMATION Harrods Traders purchases a product which has a monthly demand of 12 000 units. The cost to place an order is R10 and the holding cost is R2 per unit