Question 2.3 (16 marks) The following information is extracted from Namib Trading for the month of January 2021. 04 Jan Purchased 1 500 units at N$90 each 10 Jan Issued 1 200 units 16 Jan Issued 800 units 20 Jan Purchased 2 000 units at a total value of NS 150 000 25 Jan Issued 1 000 units 28 Jan Issued 900 units 30 Jan Purchased 1 000 units at N$110 each The opening inventory for January was 1 000 units at a total value of N$ 100 000. The company applies a perpetual accounting system and wants to decide on an appropriate method to value inventory. Page 15 of 25 IODE ASSIGNMENTS - ... 2021 DISTANCE MODE ASSIGNMENTS -... X Commercial law 1A APRIL VS-U. K... Requirement Mark Sub- Total total 8 8 8 16 2.3.1 Calculate the value of the closing inventory at the end of January 2021 using weighted average (WACO) method. 2.3.2 Calculate the value of the goods issued to production for the month of January 2021 using first in-first out (FIFO) method. Note: Show all the necessary workings or steps that are required to reach the answer. Marks are available for these. Total 16