Question One Inventory Valuation Method (10 marks) Calculate the stock on hand @ January 2019 using the First-in-First-Out Inventory valuation method and illustrate the answer by utilising a table as provided below? The following transactions of Marriage Manufacturers took place during January 2019 in respect of a component used in production: Stock on hand Issued to production 300 units @ R22 per unit 200 units Purchased from supplier Issued to production Returned to supplier (purchased on 18 Jan 2019) Issued to production 2000 units @R24 per unit 800 units 200 units 700 units FIFO Quantity Date Purchases Price Unit Amount Issues and returns Quantity Price Amount Unit Balance Price Amount (R) Unit Quantity