Cost Information of the Alpha Pvt Ltd show the following purchases and issues of materials during October October 1. Beginning Balance: 2800 units Rs. 12.00 per unit 4. Issued 1200 units 6. Received 1000 units Rs.13.30 per unit. 8. Issued 1000 units 14. Received 400 units @ Rs.14.00 per unit. 17. Issued 800 units 20. Received 500 units Rs. 14.16 per unit 25. Issued 900 units. 27. Received 1200 units Rs.13.00 per unit. Page 3 of 4 Required: 1. The cost of material consumed and the cost assigned to the inventory at the end of the month, using FIFO Method. Which industry uses FIFO method and Why? 2. The cost of material consumed and the cost assigned to the inventory at the end of the month, using Average Cost Method. Which industry uses average cost method and Why? 1244 PM