Calculate the value of inventory on May 31, under FIFO, LIFO and AVCO after the following transactions:

Unit cost Total cost 3.00 3.20 300 1,600 Quantity Units 200 500 200 100 400 100 100 400 4.00 Opening balance, 1 May Receipts, 3 May Issues, 4 May Receipts, 9 May Issues, 11 May Receipts, 18 May Issues, 20 May Closing balance, 31 May 400 5.00 500