Required: Calculate the value of closing inventory, using the following valuation techniques: 2.2.1 Weighted average cost. (Round off to the nearest cent) 2.2.2 First-in, first-out. 2.2.3 Last-in, first-out.

(5) QUESTION 2 MANAGEMENT OF WORKING CAPITAL (20) 2.1 Economic order quantity Space Suppliers anticipates sales of 252 000 units per year. The purchase price is R80 per unit, and an order cost amounts to R8 per order. The carrying cost is 5% of the unit purchase price. Required: 2.1.1 Calculate the economic order quantity. 2.2 Inventory valuation The following transactions of Maple Manufacturers took place during August 2018 in respect of a component used in production: Date Details No. of units Cost per unit 01 Opening inventory R50 09 Purchases R55 16 Purchases 80 R60 27 Purchases 30 R65 31 Issued to production during March 120 40 20