You have recently been appointed as the inventory manager at Kathy's Cookies. Kathy's Cookies buys and sells cookies. The following transactions occurred in the month of September: Because cookies are a perishable product and go off easily. Kathy's Cookies uses the First in, first out (FIFO) method to value their inventory. Other information Opening inventory (1 September): 150 Cookies purchased at R2.85 each Required a) Calculate the value of the closing stock. (8 Marks) b) Calculate the gross profit by using the First in, First Out method. (14 Marks) Use the below table format Sales