2.1.2 First-in-first-out (FIFO) INFORMATION The following transactions of Mascor Manufacturers, which uses the periodic inventory system, took place during May 2022 in respect of a component used in production: Date Transactions 26 31 (5 marks) Opening inventory Purchased from a supplier Returned to the supplier (purchased on 14 May) Purchased from a supplier Issued to production during May 300 units @R20 per unit 1 000 units for R22 000 500 units 200 units @ R24 per unit 700 units​