$3\mathrm{.}3$

REQUIRED

Prepare an extract of the Statement of Comprehensive Income that reflects, amongst others, the value of closing inventory as at $31$ March $2024$ and the gross profit for the month ended $31$ March $2024$ using the following melhods of inventopy valuation:

$3\mathrm{.}3\mathrm{.}1$ Last$-$in$-$first$-$out

$(5$ marks$)$

$3\mathrm{.}3\mathrm{.}2$ Weighled average cost $($with the weightod average cost per unit expressed to the nearest cent$).$

$(5$ marks$)$

INFORMATION

The fallowing vansactions of Sigma Traders took place during March $2024$ in respect of the only product that it sells:

$\backslash$table$[[$Date$,$Transactions,$],[01,$Opening inventory,$800$ units @ R$15$ per unt$],[10,$Purchased from a supplier,$8000$ urits @R$14$ per unit$],[16,$Purchased from a suppier,$1200$ units $>$ R $13$ per unit$],[31,$Sales during May,$8500$ units @$R24$ per unit$]]$