SECTION A Answer ALL the questions in this section. QUESTION ONE 1.1 Calculate the economic order quantity (EOQ) per annum. Economic order quantity [30 MARKS] (5 marks) Startrek Secondary School purchases 700 math's sets per annum. The cost of each math set is R80. Each set is sold for R100. The cost of placing a single order is R45. The holding cost is 11% of the unit purchase price. 1.2 Calculate the value of closing inventory using the Weighted average cost inventory valuation method (5 marks) Inventory valuation The following information concerning blankets appeared in the journal of Casio Traders for the month of September 2022: Date Details 1 Opening inventory 7 Purchases 16 Purchases 25 25 Purchases Units Cost per unit 20 R85 23 R90 33 R95 18 R100 31 Sales for the month 69