$2\mathrm{.}2$ REQUIRED

Use the information provided below to prepare an extract of the statement of comprehensive income which reflects, amongst others, the value of closing inventory as at $30$ June $2024$ and gross profit for the year ended $30$ June $2024,$ using each of the following methods of inventory valuation:

$2\mathrm{.}2\mathrm{.}1$ Weighted average cost

$2\mathrm{.}2\mathrm{.}2$ First$-$in$-$first$-$out $($FIFO$).$

$(5$ marks$)$

$(5$ marks$)$

INFORMATION

Tablo Traders, a seller of electric fans, had an inventory of $100$ electric fans at a cost of R$1100$ each on $01$ July $2023($the beginning of the financial year$).$ The following transactions took place during the financial year ended $30$ June $2024$:

$\backslash$table$[[200$ units at R$1200$ each were purchased on $25$ September $2023,$R$240000],[400$ units at R$1250$ each were purchased on $11$ December $2023,$R$500000],[300$ units at R$1300$ each were purchased on $29$ May $2024,$R$390000]]$

During the financial year ended $30$ June $2024$ Tablo Traders sold $600$ electric fans at R$1500$ each.