Drew Manufacturing Company had the following purchases and usage of materials X for the month of August (see table). Determine the cost of raw materials issued to production using FIFO-Periodic:

 Refer to Drew Manufacturinng Company Determine the ending balance of raw materials inventory using FIFO-Periodic.

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Date Inventory 8/1 Purchases: Issuance: 8/7 12 15 22 29 8/7 14 21 28 Units 5,000 P 6,000 8,000 P 9,000 10,000 10,000 9,000 9,000 9,000 9,000 Units Cost 2.00 2.50 2.30 2.25 2.40 2.35 Date Inventory 8/1 Purchases: Issuance: 8/7 12 15 22 29 8/7 14 21 28 Units 5,000 P 6,000 8,000 P 9,000 10,000 10,000 9,000 9,000 9,000 9,000 Units Cost 2.00 2.50 2.30 2.25 2.40 2.35