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please answer and show calculations QUESTIONS 2 The following transactions in respect of Material X occurred during the month of March 2020. The closing inventory

please answer and show calculations
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QUESTIONS 2 The following transactions in respect of Material X occurred during the month of March 2020. The closing inventory for February was 50 units @$22 per unit. Date Purchases Cost per unit Sales (Issued) (Units) NS (Units) 5 March 2.000 25 Nii 10 March 3,000 24 2.500 16 March 4,250 26 3,000 19 March 4,750 23 5,500 23 March 5,000 25 8,000 25 March 6,000 20 4,000 Required a) Determine the cost assigned to cost of goods sold and ending inventory using () FIFO (6 marks) () LIFO I (6 marks) (1) AVCO (6 marks) b) When would you recommend the LIFO method (2 marks) (Total: 20 Marks) Page 2 / 2

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