Massmart Limited sells a single product. The following information relates to purchases and sales for the month of July:

$\backslash$table$[[$July$,,$Number of units,Unit price$],[01,$Opening stock,$120,$R$80],[10,$Purchase,$210,$R$90],[15,$Purchase,$250,$R$100],[25,$Purchase,$300,$R$110],[,,,],[,$Sales for July,$530,$R$200]]$

Determine the value of closing inventory and gross profit using the following stock valuation methods:

$1\mathrm{.}1$ First In First Out $($FIFO$)(5$ marks$)$

$1\mathrm{.}2$ Weighted Average Cost $(5$ marks$)$

$($display your answer using the statement of comprehensive income$)$