The following transactions of Fendi Ltd took place during January 2023 in respect of component X used in production: Jan 01 Stock of component X on hand 08 Issued to production 12 Purchased from supplier 15 Returned to supplier (purchased on 12 January 2023) 18 Issued to production 25 Purchased from supplier 22 300 units @R44 per unit 220 units 400 units @ R45 per unit 60 units 340 units 280 units @R46 per unit 260 units 27 Issued to production Required: Calculate the value of closing inventory on 31 January 2023 using the: 3.1.1 First-in-first-out (FIFO) method 3.1.2 Weighted Average Cost Method (10 marks) (10 marks)