Question 4 (20 Marks) You have recently been appointed as the cost manager at Ariel Solutions. Ariel buys and sells a standard type of diaries. The details for the year ended 30 June 2020 are as follows: 1 July 2019 Opening inventory 720 diaries at R60 31 July 2019 Purchased 240 diaries at R96 each 30 April 2020 Purchased 300 diaries at R 123 During the financial year ended 30 June 2020, 250 diaries were sold, at R90 each. Required 4.1 Calculate the closing stock in units. (2 Marks) 4.2 Calculate the value of the closing stock by using the weighted average method. (8 Marks) Calculate the gross profit by using the weighted average method. Use the below format. (10 Marks) 4.3 Calculation R Sales Cost of Sales Opening stock Purchases Closing Stock Gross profit