REQUIRED

Prepare an extract of the Statement of Comprehensive Income that reflects, amongst others, the value of closing inventory as at $31$ March $2024$ and the gross profit for the month ended $31$ March $2024$ using the following methods of inventory valuation:

$3\mathrm{.}3\mathrm{.}1$ Last$-$in$-$first$-$out

$3\mathrm{.}3\mathrm{.}2$ Weighted average cost $($with the weighted average cost per unit expressed to

$(5$ marks$)$

the nearest cent$).$

INFORMATION

$(5$ marks$)$

The following transactions of Sigma Traders took place during March $2024$ in respect of the only product that it sells:

$\backslash$table$[[$Date$,$Transactions,$],[01,$Opening inventory,$800$ units @ R$15$ per unit$],[10,$Purchased from a supplier,$8000$ units @ R$14$ per unit$],[16,$Purchased from a supplier,$1200$ units @ R$13$ per unit$],[31,$Sales during May,$8500$ units @ R$24$ per unit$]]$