Desa Sdn Bhd (DSB) manufactures a single product known as COR7. Their records show that there were 3,000 kg of raw materials at the beginning of the current period with a total value of RM4,650. The following is a record of the receipts and issues of materials in a factory during May 2021. Date May 3 Bought at gross price and quantity 4,100 kg @RM1.20 each Issued out to production May 7 3,800 kg May 8 12,200 kg @RM1.35 each May 11 8,000 kg May 17 15,000 kg @RM1.40 each May 22 6,300 kg @RM1.60 each May 29 24,600 kg Additional information: On 17 May 2021, DSB entered a purchase agreement with one of its suppliers: the company will receive a free 50 kg of raw materials for each 1,000 kg purchased. The management was decided that the new agreement would be a cost saving to the company. Required: Using the following methods calculate the value of closing inventory as at 31 May 2021. (Round your answers to 2 decimal points. Eg: 2.36516-2.37) (a) First in, First out method (FIFO) (b) Moving Average method (MAVG) (c) Last in, First out method (LIFO) (10 marks) (8 marks) (7 marks) (Total: 25 marks)