Question 3 ICLO 5) (10 Marks) (a) Inventory can be in the form of raw material, work-in-progress and finished goods. Which of these type/types of inventoryInventories is/are held by your selected company? and Why? Explain. (3 Marks) (b) Calculate the inventory turnover ratio for 2015, 2016 and 2017 and comment on the inventory management (3 Marks) (c) Which of the following inventory management system is applied by the company? and Why? Discuss. (2 Marks) Periodic Inventory Management System Perpetual Inventory Management System (d) Which of the following inventory valuation method is applied by the company and Why? Appraise. (2 Marks) Last in First Out Method (LIFO) First in First Out Method (FIFO) Average Methods