(4marks) (a) Briefly explain four factors which affect inventory valuation system (b) A wholesaler had opening inventory of 600 units of product C valued at K50 per unit at the beginning of May. The following receipts and sales were recorded during May. Date 2 May 12 May 21 ay 29 ay Receipts 800 Issues 500 400 150 The purchase cost of receipts was K51.50 per unit. Using a weighted average method of valuation, calculate the value of closing inventory at the end of May. (6 marks) (c) My choice a wholesaler based in Kabwe had the following receipts and issues during ay. Receipts units Issues units K/unit 4 May 900 30 6 May 500 13 ay 700 35 14 May 400 23 May 650 50 25 May 400 29 May 500 2.250 1.800 Calculate the value of closing inventory at the end of May using the periodic weighted average. (d) What are the challenges of using the AVCO inventory system ( 3marks)