5 5.1 REQUIRED: (20) (9) Calculate the value of closing inventory as at 31 December 2019 and gross profit for the year ended 31 December 2019 using the First-in-First-Out (FIFO) method. Use the format of the Statement of Comprehensive Income to present your answer. INFORMATION: Incredible Connection a supplier of computer accessories, inventory records are presented in the table below: Closing inventory of 170 units at R320 each on 31 December 2018 90 units at R330 were purchased on 20 February 2019 110 units at R350 were purchased on 20 June 2019 80 units at R380 were purchased on 15 October 2019 During the year (Jan-Dec 2019) 350 units were sold at R600 each 5.2 REQUIRED: Use the information provided below to: 5.2.1 Calculate the break-even quantity 5.2.2 Calculate the break-even value 5.2.3 Calculate the margin of safety in units. 5.2.4 Calculate the target sales volume to achieve a profit of R100 000. 5.2.5 Calculate the contribution margin ratio INFORMATION: Climatron Industries plans to manufacture deskfans and the following information is applicable: Estimated sales for the year Estimated costs for the year Direct Material Direct Labour Factory overheads (all fixed) Selling expenses Administrative expenses (all fixed) 3000 units at R300 each R80 per unit R40 per unit 100 000 R10 per unit sold R70 000 (11) (2) (3) 5