3. The following transactions of Heron Ltd took place during January 2009 in respect of component...

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3. The following transactions of Heron Ltd took place during January 2009 in respect of component J used in production: Jan 01 Stock of component J on hand 08 Issued to production 12 Purchased from supplier 15 Returned to supplier (purchased on 12 January 2009) 18 Issued to production 150 units @R24 per unit 110 units 200 units @ R25 per unit 30 units 170 units 25 Purchased from supplier 27 Issued to production 140 units @ R26 per unit 130 units Calculate the value of closing inventory on 31 January 2009 using the: First-in-first-out (FIFO) method 8.1 .2 Weighted Average Cost Method 3. The following transactions of Heron Ltd took place during January 2009 in respect of component J used in production: Jan 01 Stock of component J on hand 08 Issued to production 12 Purchased from supplier 15 Returned to supplier (purchased on 12 January 2009) 18 Issued to production 150 units @R24 per unit 110 units 200 units @ R25 per unit 30 units 170 units 25 Purchased from supplier 27 Issued to production 140 units @ R26 per unit 130 units Calculate the value of closing inventory on 31 January 2009 using the: First-in-first-out (FIFO) method 8.1 .2 Weighted Average Cost Method