Question: REQUIRED Use the information provided below to prepare an extract of the Statement of Comprehensive Income for the month ended 31 December 2022, which includes
REQUIRED Use the information provided below to prepare an extract of the Statement of Comprehensive Income for the month ended 31 December 2022, which includes the closing inventory and gross profit for each of the following methods of inventory valuation: 2.1.1 FIFO method 2.1.2 Weighted average cost method (with the cost per unit expressed to the nearest cent) INFORMATION December Transactions Opening inventory Purchases Purchases Sales for December Units of inventory 6 000 12 000 2 000 16 000 Unit price R20 R22 R24 R50 (5 marks) (5 marks)
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