Question 2 Answer the questions from the information provided. 2.1 Use the information given below to calculate the net value of issues to the production department for October 2021 and the value of closing inventory as at 31 October 2021 using the following methods of inventory valuation: 2.1.1 First-in-first-out 2.1.2 Weighted average cost (Express the average cost per unit in rands and cents.) (6 marks) (6 marks) INFORMATION The following information for October 2021 was extracted from the records of Kramer Limited, a manufacturing company that uses the periodic inventory system, for an inventory item that it uses in production: Date Transaction details 01 Opening inventory: 2000 units @ R20 each 05 An invoice was received for 18 000 units @ R21 each. 06 Returned 5 000 damaged units (purchased 05 October 2021) to the supplier. 15 An invoice was received for 30 000 units at R23 each. 25 Received an invoice for 5 000 units @ R25 each. 31 Transferred 43 000 units to the production department during October 2021.