1.3 REQUIRED Use the information provided below to calculate the gross profit for the financial year ended 28 February 2023. (4 marks) INFORMATION The following balances/totals, amongst others, appeared in the trial balance of Supra Stores on 28 February 2023, the end of the financial year: Inventory (on 01 March 2022) Sales Sales returns Purchases Purchases returns Carriage on purchases Carriage on sales Additional information Stocktaking on 28 February 2023 revealed an inventory figure of R222 000 at cost price. 1.4 REQUIRED Calculate the value of closing inventory as at 31 August 2023 using the weighted average cost method. (Express the weighted average cost per unit in rands and cents.) R 120 000 940 000 12 000 680 000 20 000 15 000 22 000 Opening inventory Purchased from a supplier Purchased from a supplier Sales for August INFORMATION The following information was extracted from the books of Samke Stores on 31 August 2023 for the only product that it sells. August Transaction 01 13 24 31 Units of inventory 11 000 32 000 7 000 45 000 (4 marks) Price per unit R10 R11 R12 R20