QUESTION 4 Answer the questions from the information provided. 4.1 4.1.1 Use the information provided below to calculate the following: Economic order quantity (3 marks) 4.1.2 The number of orders that need to be placed each year 4.1.3 The total Ordering costs and Carrying costs. (2 marks) (4 marks) INFORMATION The annual sales of Mansen Limited for Product Pod is 500 000 units. The purchase price is R10 per unit. The carrying cost of Product Pod amounts to 10% of the purchase price. The ordering cost is R25 per order. 4.2 4.2.1 Study the information provided below to prepare an extract of the Statement of Comprehensive Income to reflect the value of closing inventory as at 31 January 2022 and gross profit for January 2022 by using each of the following methods of inventory valuation: First-in-first-out (FIFO) (6 marks) 4.2.2 Weighted average cost INFORMATION (5 marks) The following information was provided by Randall Traders for January 2022 in respect of the only product that it sells: Transactions January 01 Opening inventory 14 Purchases Units of inventory Unit price 3 000 R10 15 000 R11 15 Returned to supplier (see 14th) 2 000 ? 21 21 Purchases 4 000 R12 31 Sales for January 2022 15 000 R20