Q.4. (6 Marks) Listed below is a record of a series of inventory transactions undertaken by a wholesale business during the month of March for one of its inventory items. Inventory Item ABC Units Value $ 1 March Opening Inventory 350 2,800 3 March receipt 500 4,125 8 March issue 650 10 March receipt 500 4,325 18 March issue 425 23 March issue 100 2 3,950 25 March receipt 500 Required: Solve the question using: a. The first-in, first-out method of pricing b. The weighted average cost method of pricing