QUESTION TWO $[14$ Marks$]$

REQUIRED

$2\mathrm{.}1$ Use the information given below for Jasco Limited to calculate the gross profit and value of closing stock using the following inventory valuation methods:

$2\mathrm{.}1\mathrm{.}1$ First in First Out method $($FIFO$)(6$ marks$)$

$2\mathrm{.}1\mathrm{.}2$ Weighted average cost method $(4$ marks$)$

$($present your answers using a statement of comprehensive income for each question$)$

INFORMATION

The following information for March $2025$ was extracted from the records of Jasco Limited:

$\backslash$table$[[$Date$,$Details,Number of units,Unit price$],[01,$Opening stock,$80,$R$20],[05,$Purchases,$90,$R$24],[18,$Purchases,$110,$R$26],[22,$Purchases,$130,$R$30],[,,,],[,,260,$R$50]]$

$2\mathrm{.}2$ REQUIRED

Study the information given below and calculate the Economic Order Quantity $($EOQ$)(4$ marks$)$

INFORMATION

Pepkor Limited expects annual sales of $120000$ of laptop bags that it sells. The bags cost R$450$ each. The holding costs amount to R$45$ per bag and the ordering cost is R$120$ per order.