PART B During the year 20X5, the owner of Plants 'R' Us made the following inventory purchases and issues: 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 Required: a. What is the value of closing inventory on 31 January 20X5, under? a. FIFO (3 Marks) b. LIFO (3 Marks) 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)