Use the following information to calculate the value of inventory on hand at 31 March 20.6 using FIFO method. Puchases Cost of sales On hand Date Units Cost Amount Units Cost Amount Units Cost Amount per per (R) (R) per (R) unit unit unit Inventory data for item X in March 20.6: Purchases Date 01 March 20.6 08 March 20.6 15 March 20.6 22 March20.6 29 March 20.6 Sales Date 16 March 20.6 31 March 20.6 Units 100 300 200 300 100 1000 Units 300 400 Cost Per Unit (R) 1.00 1.10 1.20 1.30 1.40 Amount (R) 100 330 240 390 140 1200