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If statement process from the top down, so "March" will always be last. If you are trying to switch between Current/Last/Quarter, you will need to use a parameter and include it in your if statement.
Alternatively, you could break it into separate calculations, IE: "Is In Quarter?" or "Is current month?"
Hope this helps!
I used the alternate solution by breaking the time period into separate calculations and then using those calculations in a single parameter. It works perfectly. Thanks !