Self-test Nat purchases 60 boxes of towels in February 2009 for £22 per box. He also buys an additional 30 boxes in April 2009 at £26 per box.

In July 2009 he sells 80 boxes for £68 per box.

You are told that closing stock at 31 December 2009 must be valued for use in the trading account of the business.

You are required to calculate the value of this stock using:

(a) FIFO;

(b) AVCO; and

(c) LIFO.