2.1 REQUIRED Use the information given below to calculate the net value of issues to production for May 2023 and value of closing inventory as at 31 May 2023 using the following methods of inventory valuation: 2.1.1 First-in-first-out (5 marks) 2.1.2 Last-in-first-out (5 marks) 2.1.3 Weighted average cost. (Express the average cost per unit in rands and cents.) (5 marks) INFORMATION The following information for May 2023 was extracted from the records of Kens Limited, a manufacturing company, for a component used in production: REQUIRED Use the information given below to calculate the quantity that will minimise the total ordering and storage costs during 2024. (5 marks) INFORMATION Kip Enterprises intends purchasing 2000 units of product Yogo per week during 2024 at R52 per unit. The following additional costs are incurred: FIRST-IN-FIRST-OUT (FIFO) METHOD Net value of issues FIRST-IN-FIRST-OUT (FIFO) METHOD Value of closing inventory Net value of issues Net value of issues Value of closing inventory