February 1, 2022 stock of material available 300 units @ OMR 5.000 each. February 2; issued material to production 250 units February 5; purchased 200 units @ OMR 5.200 each February 7; issued material to production 100 units February 10; Purchases 150 units @ OMR 4.500 each February 12; issued material 100 units February 20; Purchases 180 units @ OMR 4.500 each February 28; issued material 200 units.

Prepare stores ledger for Mazoun Dairy farm under FIFO and LIFO (table ) method and find out the value of closing inventory. Comment on how the value of closing inventory are differed/similar under both the method and analyse its implications.