Answer ALL questions in this assignment. (100) (25) QUESTION 1 1.1 REQUIRED Calculate the following by applying the first-in-first-out (FIFO) and weighted average cost methods of valuing inventory to the information given below: USING THE FIRST-IN-FIRST-OUT METHOD 1.1.1 Value of inventory on 16 March Value of inventory on 31 March Value of issues on 18 March 1.1.4 Total value of issues to production for March. 1.1.2 1.1.3 S !!! USING THE WEIGHTED AVERAGE METHOD (Note: Round off the average cost per unit to the nearest cent and other amounts to the nearest Rand.) 1.1.5 Weighted average cost per unit on 16 March 1.1.6 Value of returns on 20 March 1.1.7 Value of issues on 18 March 1.1.8 Total value of issues to production for March. aaaa Note: Tables may be used to as part of your workings but the answers to each of the above questions must also be supplied separately. INFORMATION The following transactions of Ascar Manufacturers took place during March 2020 in respect of a component used in production at Project M: Mar 01 Opening inventory 200 units @ R9 per unit 05 Issued to production 100 units 16 Purchased from a supplier 400 units @ R10 per unit 18 Issued to production 300 units 20 Returned to the supplier (see 16 March 2020) 100 units 23 Purchased from a supplier 900 units @ R11 per unit 27 Issued to production 500 units