PART B During the year 20X5, the owner of Plants 'R' Us made the following inventory purchases and issues: Required: Date Details Units /item Units remaining 1 January 20X5 Opening inventory 50 3 50 4 January 20X5 Purchases 45 2.80 95 10 January 20X5 Sales 30 5 65 12 January 20X5 Sales 25 5 40 15 January 20X5 Purchases 10 2.50 50 21 January 20X5 Sales 40 5 10 27 January 20X5 Purchases 20 2.60 30 a. What is the value of closing inventory on 31 January 20X5, under? a. FIFO (3 Marks) b. LIFO (3 Marks) I c. AVCO (2 Marks) b. Prepare the trading account for the business for the month of January 20X5, under each method of: a. FIFO (3 Marks) b. LIFO (3 Marks) c. List two factors affect the choice of inventory valuation? (2 Marks)