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Question 3 (17 marks) Papercut Cc is a small manufacturing company that is attempting to value a raw material used to produce one of its popular products. The company buys more and more stock of the material to fulfil the growing demand and measuring the value of that inventory with more accuracy has become more important. Quantit k IJune 2023 5 June 2023 7 June 2023 13 June 2023 19 June 2023 26 June 2023 The Production Manager requests your advice. REQUIRED: Balance Receipts Recei ts Issued Recei ts Issued is considering 1 ooo 1 500 2 ooo 2 300 2 900 3 850 Unit rice/k N$ 5.50 N$ 6.30 N$ 6.70 N$ 5.80 a review of the inventory control policy, and he MARKS 3.1 3.2 3.3 3.4 What is the difference between the periodic and perpetual inventory system? Why would you advise the company to ursue a r tual invento s stem? Compile a stores ledger card and calculate the value of inventory for the month of June using the First-in-first-out FIFO method. Page 17 of 18 Sub- total 2 6 Total 2 8 FACULTY OF COMMERCE, MANAGEMENT AND LAW OLD CURRICULUM MODULES Compile a stores ledger card and calculate the value of inventory for the month of June using the Weighted Average method. Why is inventory valuation important and why does the choice of method matter? 8 16 17 Total 17