Please answer within the proper format with all supporting calculation seperately

QUESTION 2 (30 marks) BGS is a retailer buying and selling leather handbags. The following information relates to the month ended 31 August 2021. Date No. of units ' Cost per unit 1 Aug Opening inventory 45 R8024 5 Aug Credit purchase R8850 8 Aug Purchase return R8650 25 Aug Credit purchase R8260 On 31 August 2022, 88 units on hand. The net realisable value of these items was R8260 Additional Information The only sale during the month of August 2022 was a sale of 62 units on 15 August 2022. Required; a) (3 marks) Determine the cost of closing inventory on the FIFO cost allocation method. b) (7 marks) Prepare the cost of sales and inventory accounts in the General Ledger the month ended 31 August 2022, using the FIFO cost allocation method, assuming the periodic recording system was used. (Atust and closing entries should be included)