Answer the questions from the information provided. Calculate the value of closing inventory as at 31 August 2021 and cost of sales for August 2021 using the following methods of inventory valuation: 2.1 2.1.1 First-in-first-out (5 marks) 2.1.2 Weighted average cost (Express the average cost per unit in rands and cents.) (5 marks) Last-in-first-out (4 marks) INFORMATION The following transactions took place during August 2021 in respect of a product sold by Mica Enterprises: Aug Transactions 01 Opening inventory 300 units @ R20 per unit 15 Purchased from a supplier 1 500 units @ R21 per unit 27 Purchased from a supplier 400 units @R22 per unit 28 Returned to the supplier (purchased on 27 August) 200 units 31 Sales for the month 1 500 units 2.1.3 2.2 Use the information provided below to calculate the following for 2022: 2.2.1 The number of units that should be produced. (3 marks) The expected cost of sales (in Rands). (3 marks) INFORMATION The following reflect the forecast of Leo Manufacturers for the year 2022 for the only product that it manufactures: Units Price per unit Sales forecast 1 900 R60 Expected opening inventory 400 R40 Desired closing inventory 500 ? 2.2.2 The FIFO method is used to value inventories. The production cost per unit for 2022 is expected to be R45.