XCellent Enterprises trades in a single homogenous product. On 1 August 2020, there were 6 500 units on hand with a selling price of R 5 each (after marking these goods up with 25% on cost). XCellent Enterprises uses the perpetual inventory system and the weighted average cost method to value stock. Transactions relating to XCellent Enterprises for August 2020 DATE TRANSACTIONS 3 Sold 500 units @ R 4,50 each 7 Purchased 8 000 units @ R 2,50 each 12 Purchased 3 000 units @ R 3,20 each 18 Sold 5 250 units @ R5,25 each 26 Purchased 4 750 units @ R 4 each. The carriage costs amounted to R2 375 REQUIRED: Show all workings and round off all calculations to two decimal places Q.4.1 Calculate the closing inventory balance (units and Rand value) as at the end of (20) August 2020 using the following format. Use the following layout: Date Purchase Issues Balance Q.4.2 Calculate the gross profit for August 2020