Section B: Question 4: Inventory Valuation Methods Allow about 7 minutes to answer this question Marinello Ltd began operations on 1 March 2021. During March, the business had the following purchases and sales of inventory: 1 March: Purchased 4 units for $99 each 6 March: Sold 3 units for $149 each 11 March: Purchased 5 units for $109 each 14 March: Sold 2 units for $149 each 21 March: Purchased 3 units for $117 each 27 March: Sold 3 units for $169 each Required: (a) What is the value of inventory on 31 March 2021 under the FIFO (first-in, first out) method? [Include your working.] 2 marks (b) What is the value of inventory on 31 March 2021 under the periodic - weighted average cost method? [Include your working.) 2 marks Type your answers into the text box below (or type into a document and then copy and paste into the text box below - paste answer NOW before continuing) TOTAL: 4 MARKS