You are provided with information from the books of Reggies CC. The business sells mangoes and it is owned by Reg Mfeku. The financial year ended on 28 February 2014.

		UNIT
	NUMBER OF
		PRICE	TOTAL
	UNITS
		N$
Stock balance on 1 March 2013	830	65	53 950
Total purchases for the year	3 470		223 760
May 2013	1 350	72	97 200
August 2013	980	62	60 760
November 2013	520	55	28 600
January 2014	620	60	37 200
Total sales for the year	3 360		182 400
June 2013	2 000	85	170 000
Dec 2013	1 360	90	12 400
Stock balance on 28 February 2014	940	?	?

1. You are required to calculate the closing stock balance on 28 February 2014, using the first-in-first-out (FIFO) method of stock valuation. (22 marks)

2. Calculate the total number of units sold. (2 marks)

3. Is the FIFO method appropriate for this product? Explain. (2 marks)