Previous Period Lookup

Hi

I have a module where I look up the last period with data entered - line item Previous Non-Blank.  

My formula is as follows - why in Q4 FY20 and Q1 FY21 is the previous non-blank not picking up Q3 FY20 and Q4 FY20?

 

Formula: IF Last Quarter Entered = Last Quarter Entered[SELECT: TIME.All Periods] AND ITEM(Time) >= Last Quarter Entered[SELECT: TIME.All Periods] THEN PREVIOUS('Previous Non Blank') ELSE PREVIOUS(Last Quarter Entered)

 

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Thanks

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