Question 9 and 10

Use the following information to answer questions 9 and 10. Madlukovu Limited is a retailer that has adopted a perpetual inventory system and a weighted average cost flow assumption. At the beginning of January 2020 there were 1 000 units of merchandise in inventory. The total value of opening inventory was R45 000. During January 2020 the following purchases were made: Date and units 8 January: 200 units at R46 each 15 January:150 units at R48 each 22 January: 120 units at R50 each 29 January 100 units at R51 each During January 2020 the following sales took place: Date Sales 5 January... 300 units 10 January 400 units 16 January 250 units 28 January 170 units 30 January 30 units 9. The cost of sales for January was R... (Round off to the nearest two decimals where applicable) 1) R20 055. 2) R72 500 3) R52 445. 4) R22 500 10. Assume that Madlukovu Limited applies a consistent mark-up of 40% on cost. The gross profit for January was R... 1) R31 500 2) R8 022. 3) R29 000. 4) R20 978