1.3 Use the table and information below to determine the the value of issues between 01 and 15 June 2017 and the value of inventory on 15 June 2017 using the: 1.3.1 First-in-first-out method. 1.3.2 Weighted average cost method. Purchases Issues and returns Balance (4 marks) (4 marks) Date Quantity Price Amount Quantity Price Amount Quantity Price Amount INFORMATION Hero Manufacturers made the following material purchases, returns to supplier and issue to production during the first half of June 2017: 1.4 June Units Price Inventory 01 1 400 R3.00 Purchases 07 600 R4.00 Purchases 11 3 000 R5.00 Return (see 11th) 12 1000 ? Issue 15 3 500 ? REQUIRED Use the information provided below to calculate the number of orders that should be placed, based on the annual economic order quantity. INFORMATION (4 marks) Maxwell Limited manufactures a product which has a steady monthly demand of 12 000 units. The product requires a component that is purchased from a supplier at R30 per unit. The ordering cost is R1.80 per order. The holding cost is 10% of the unit purchase price