2.3 Calculate the value of closing inventory as at 31 December 2021 and gross profit for the year ended 31 December 2021 using the following methods of inventory valuation. Note: An extract of the Statement of Comprehensive Income must be used to present your answer. INFORMATION Jeppe Discounters had the following inventory of gift sets on 01 January 2021, the start of the financial year. Carriage on purchases per unit Quantity 60 gift sets 2.3.3 Unit purchase price R150 During 2021 the following purchases, return and sales were made: 1 740 gift sets were purchased at R160 each on 31 March 2021. Carriage amounted to R4 per unit. 200 gift sets that were purchased on 31 March 2021 were returned to the supplier. A refund was obtained on the carnage. 400 gift sets were purchased at R170 each on 31 August 2021. Carriage amounted to R4.40 per unit. 1400 gift sets were sold during the year at R300 each. Note: The carnage costs are not included in the purchase prices stated above. 2.3.1 First-in-first-out. 2.3.2 Weighted average cost. (Express the weighted average cost per unit to the nearest cent.) Last-in-first-out. RA (5 marks) (4 marks)