?Question $1[30$ ?Marks$]$

The inventory record sheets for hairbrushes at Debbie$$s Beauty Supply during the year

show that $5000$ ?units were purchased. The inventory sold during the year amounts to

$2400$ ?units.

Required:

Compute the value of the inventory sold by each of the two methods: weighted average

cost and FIFO methods. Use the transactions below. $(30$ ?marks$)$

Date Transactions

$1/01$ ?Purchased $2000$ ?units @ R$2\mathrm{.}00$

$1/30$ ?Purchased $200$ ?units @ R$2\mathrm{.}10$

$2/20$ ?Purchased $700$ ?units @ R$2\mathrm{.}10$

$3/17$ ?Purchased $1100$ ?units @ R$2\mathrm{.}00$

$10/30$ ?Purchased $500$ ?units @ R$2\mathrm{.}20$

$11/17$ ?Purchased $500$ ?units @ R$2\mathrm{.}10$

Show all your workings and round off to two decimal places where applicable.