LG Television Company in Riyadh City has been in operation now for a year. The company manager wants to know a comparative study of Inventory Valuation Methods: First in First Out (FIFO), Last in First Out (LIFO) and Average Cost (weighted) Method. The following is a summary of the receipts (purchase) and issues of materials in Samsung Company during the month of March, 2019 Date Particular Quantity Rate Per Unit 01-03-19 Receipt (Purchase) 2000 05-03-19 Receipt (Purchase) 300 12 08-03-19 Issued 1200 10-03-19 Receipt (Purchase) 200 12-03-19 Issued 1000 23-03-19 Receipt (Purchase) 300 31-03-19 Issued 200 1. You are required to Calculate Inventory Valuation by FIFO method. [Marks : 21 2. You are required to Calculate Inventory Valuation by LIFO method. [Marks : 2] 3. You are required to Calculate Inventory Valuation by Average Cost method. [Marks: 3] 4. The manager of the Samsung company wants to know which method is better FIFO or LIFO and Why? [Marks: 2] 5. Recommend to the manager, which method is showing least inventory price. [Marks: 1]