The following is the inventory records for Perniagaan Sana Sini which just started its business on 1 January 2016. Purchases Sales January 1,000 units @ RM1.50 February 200 units @ RM3.00 February 2,000 units @ RM2.00 May 1,900 units @ RM3.50 April 1,500 units @ RM2.00 July 1,100 units @ RM3.50 July 1,800 units @ RM2.20 October 2,500 units @ RM4.00 September 2,400 units @ RM2.50 December 2,300 units @ RM4.50 December 3,000 units @ RM3.00 Assume that sales were at the beginning of each month and purchases were at the end of each month. Perniagaan Sana Sini adopts the perpetual inventory system. Required: a. Calculate the value of the closing inventories using the first-in-first-out (FIFO) method and weighted average cost method respectively. b. Compute the cost of sales and gross profit using both inventories valuation methods. Note: All computation should be rounded to two decimal points