22 Gaza Lid stock records are presented in the table below. Closing inventory of 85 units at R155 each on 31 December 2015 50 units at R160 each were purchased on 30 May 2015 55 units at R170 each were purchased on 31 October 2015 During the year (Jan-Dec 2015) 130 units were sold at R200 each Required: Calculate the value of closing inventory as at 31 December 2015 and gross pront for the year ended 31 December 2015 using the weighted average cost method. 19 marks