QUESTION I b) a) The following is an inventory card for MANFRO TRADING, a company selling commercial equipment in May 2022: Purchases Sales Date Units S/unit Units S/unit May 3 40 125 9 20 10 50 130 11 20 21 30 28 40 132 31 20 Inventory balance at the beginning of the month was 10 units at the cost of $120 per unit. REQUIRED: i) Perform calculations on the value of closing inventory as at 31 May 2022 using the First in, First Out (FIFO) inventory valuation method. Describe the advantages and disadvantages of the following inventory valuation methods: Last in, First Out (LIFO) i) ii) Average Cost (AVCO)