REQUIRED:

a) Calculate the value of closing inventory for the month of October using the weighted average method of inventory valuation. (12)

b) Calculate the gross profit if the entity uses a 30% mark-up on cost price. (3)

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The value of stock on 30 September 2023 was R2 500 ( 10 units). The company requires a 25% mark-up on cost price. REQUIRED: a) Calculate the value of closing inventory for the month of October using the weighted average method of inventory valuation. (12) b) Calculate the gross profit if the entity uses a 30% mark-up on cost price. (3) Show your workings, where necessary round-off to two (2) decimal places. Do not use currency symbols in your answer, e.g. R50 is written as 50