Chapter 2 3. The 5 Egbert Company uses an industrial chemical, XRG, in a manufacturing...
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Chapter 2 3. The 5 Egbert Company uses an industrial chemical, XRG, in a manufacturing process. Information as to balances on hand, purchases, and requisitions of XRG is given in the following table. Transaction Number of Price per Kilograms Kilogram Balance of Jan. 1 Beginning balance Jan. 24 Purchased Feb. 8 Issued Mar. 16 Issued Jun. 11 Purchased Aug. 18 Issued Sep. 6 Issued Oct. 15 Purchased Dec. 29 Issued 1,000 3,500 2,800 1,600 3,100 2,300 700 2.700 2,100 1,000 2,500 700 1,200 $2.10 $2.25 9 $2.75 800 1,600 2,000 $2.80 a perpetual inventory record of XRG is maintained on a FIFO basis, the March 16 issue will consist of: a. 300 kilograms@$2.10 and 900 kilograms@$2.25 b. 1,000 kilograms @$2.10 and 200 kilograms @ $2.25. c. 1,200 kilograms@$2.25. d. 700 kilograms@ $2.10 and 500 kilograms @ $2.25. Answer._ (3 points) (Show Work) Number of Kilograms Price per Kilogram Kilograms issued Kilograms issued on February 8 on March 16 Beginning Balance Jan. 24 Purchase
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