USIS will be 2% of sales and production and selling costs will be 60% of sales U UG 5.2 REQUIRED: Calculate the value of closing inventory as at 31 December 2018 and gross profit for the year ended 31 December 2018 using the weighted average cost method. (9 marks) Use the format of the Statement of Comprehensive Income to present your answer. INFORMATION: Sahara Limited stock records are as follows: Closing inventory of 100 units at R200 each on 31 December 2017 80 units at R210 each were purchased on 20 May 2018 60 units at R240 each were purchased on 30 June 2018 120 units at R260 each were purchased on 30 September 2018 During the year (Jan-Dec 2018) 300 units were sold at R300 each