QUESTION 3 A company holds inventory of material X which it uses in production. Over the last month receipts and issues were as follows: Receipts Issues Opening balance 200 @ 5 7th 400 5th 300 @ 4.50 23rd 400 12th 100 @ 6 30th 200 22nd 400 @ 5.50 29th 200 @ 7 Required: What would the balance on the Material X inventory account be at the month using FIFO, LIFO and Weighted average cost of inventory valuation method.