Identify one product you have purchased recently and the store from which it was purchased. Please provide a short answer to each of the following questions:

(a) Reviewing the different inventory valuation methods, which do you think would apply to the product you have purchased and why;

(b) do you think the store uses the FIFO, LIFO or Average Unit Cost method to calculate the base value and sale order; and

(c) is this a product which would be subject to spoilage, obsolescence, warranty or return?