QUESTION 2 (20 MARKS) 2.1 REQUIRED Use the information given below to calculate the cost (as a percentage) to Nascar Retailers of not accepting the discount. (5 marks) INFORMATION Zao Wholesalers offers Nascar Retailers credit terms of 30 days but allows a discount of 2.5% if the account is settled in full within 12 days. 2.2 REQUIRED Use the information provided below to calculate the value of the components issued to production during September 2020 and the value of closing inventory as at 30 September 2020 using the following methods of inventory valuation: 2.2.1 First-in-first-out (FIFO) (5 marks) 2.2.2 Weighted average cost (with the weighted average cost per unit rounded off to the nearest cent). (5 marks) INFORMATION The following transactions of Fego Manufacturers took place during September 2020 in respect of a component used in production: Date Transactions 01 Opening inventory 400 units @ R20 per unit 11 Purchased from a supplier 1 200 units @ R21 per unit 16 Purchased from a supplier 600 units @ R23 per unit 17 Returned to the supplier (see 16th) 200 units 30 Issued to production during September 1 500 units 2.3 REQUIRED Calculate the annual economic order quantity from the information provided below. (5 marks) INFORMATION The following details have been supplied by Yolo Limited for one of its products: Monthly sales 6 000 units Carrying costs as a percentage of the unit purchase price 10% Purchase price per unit R50 Cost of placing an order R20