2.1 REQUIRED Use the information provided below to calculate the following 2.1.1 Economic order quantity 2.12 The number of orders that need to be placed each year 2.13 The total ordering costs and carrying costs (3 marks (2 marks) 4 mans) INFORMATION The annual sales of Salour Limited for Product Pod amounted to R18 000 000, at a selling price of R30 per unit. The purchase price is R20 per unit. The carrying cost of Product Pod amounts to 10% of the purchase price. The cost of placing an order is R50. 22 REQUIRED Study the information provided below and then calculate the value of closing inventory as at 30 November 2018 and gross profit for the financial year ended 30 November 2018, using the 2.2.1 First-in-first-out (FIFO) method (4 marks 2.22 Weighted average cost method. (4 marks) Note: An extract of the Statement of Comprehensive Income must be used to reflect the above. INFORMATION November Transactions Units of inventory Unit price 01 R10 12 R10 R1 13 Opening inventory Purchases Camage on purchases Returned to supplier (see 12") Purchases Carriage on purchases Sales for November 2018 6 000 40 000 40 000 4 000 8 000 8 000 40 000 21 R10 R11 R1 R20 30 Note: The unit price of the opening inventory includes the carriage on purchases, No refund was obtained on the carriage for the goods retumed on 13 November 2.3 Provide THREE (3) reasons why a high inventory turnover may not be desirable. (3 marks) Berg, Loreto