SECTION B: CHOOSE ANY THREE (3) QUESTIONS - 60 MARKS QUESTION 2: The following information relates to the inventory of raw materials 7 and wark in progress of the only product manufactured by MWTB Plc. There is no opening stock of raw materials Z or work in progress at I Oetober and complese finished goods are valued at K30.50 per unit. Required: a. Prepare a statement showing the amount charged to production and the total value of inventory of raw material Z held after each inveritory transaction(rounding to 2 decimal places), using each of the following methods of inventory costing:\{12\} i. First in First out (FIFO) ii. Last in First out (LIFO) iii. Weighted Average Cost (AVCO) b. Outline the advantages and disadvantages of each of the above three( 3 ) methods of inventory costing (6) c. Calculate the value of the company's inventory of work in progress at 31 October (2)