1. Perform the Inventory valuation using Period Simple Average and Weighted average methods using the inventory data given below. Sr. # 1 2 3 4 Purchase Date Price/Unit (SR) 1st 1-Jan 1-Feb 1-Mar 1-Apr TOTAL Period Simple Average (Jan to Apr ) = Weighted Average a 2. Company X has purchased the inventory Item A as per the following details. Quantity Unit Price Lot # 3rd 185 200 220 180 2nd 4th Period Simple Average Quantity Purchased/Lot (Units) (SR) 500 400 530 600 100 200 Total cost of the Lot 120 180 220 200 215 210 By end of the Year, The company consumed 500 Units of Item A. Calculate the value of remaining units of Item A using the following Inventory Valuation Methods. FIFO LIFO HIFO Simple Average Method