Please provide detailed solution with explanation.

Q.2. Read the following information and answer the question provided. ( 42=8 marks) XYZ Itd. wants to know the effect of different inventory valuation methods on financial statements. Given below is information about beginning inventory and purchases for the year 2019 . Sales at the end of the year was 2700 units at Rs.50 per unit. 1. What should be value of the closing inventory using FIFO method? 2. What should be value of the closing inventory using LIFO method? 3. As per First-in, first-out (FIFO) method, gross profit would be Rs. 4. As per Last-in, first-out (LIFO) method, gross profit would be Rs