THREE [20] EPR Industries is a wholesaler that distributes boxes of toy cars to local shops. The company has a 31 December financial year end. The following inventory transactions occurred during January 2018: January Purchases January Sales 1 220 boxes at R220 10 220 boxes at R286 3 440 boxes at R231 14 110 boxes at R286 16 110 boxes at R236 18 220 boxes at R264 25 660 boxes at R249 24 110 boxes at R286 28 220 boxes at R253 26 220 boxes at R264 29 220 boxes at R264 27 330 boxes at R308 31 330 boxes at R308 There was no opening inventory in January 2018. Required: Calculate the gross profit using: 3.1. FIFO method (10) 3.2. Weighted average method