3/7 100% Jacob sells car battery chargers to garages. During April 2022, the following transactions took place: - Date Purchases Sales 8 April 750 units @ 11.40 each 14 April 1,440 units 16 April 990 units @ 11.80 each 22 April 1,200 units Jacob sets his selling price so as to achieve a 20% gross profit. Opening inventory at 1 April 2022, was 1,500 units which cost 16,200 in total. REQUIRED: a) Calculate the value of inventory at 30 April 2022 using the weighted average method. (7 marks) b) Prepare an extract from the income statement for the month ended 30 April 2022 showing gross profit (9 marks) c) Explain how the matching principle is applied to the valuation of inventories. (5 marks) d) Explain the circumstances in which inventories might be shown in the financial statements at a value different from their historical cost. OF (4 marks) (Total 25 marks)