The Egbert Company uses an industrial chemical, XRG, in a manufacturing process. Information as to balances...

 

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The 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 Kilograms 1,000 2,500 700 1,200 1,500 800 1,600 2,000 600 Balance of Kilograms 1,000 3,500 2,800 1,600 3,100 2,300 700 2,700 2,100 Price per Kilogram $2.10 $2.25 Date Jan. 1 Beginning balance Purchased Issued Jan. 24 Feb. 8 Mar. 16 Issued Jun. 11 Aug. 18 Issued Sep. 6 Oct. 15 Dec. 29 Purchased $2.75 Issued Purchased Issued $2.80 If 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. The 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 Kilograms 1,000 2,500 700 1,200 1,500 800 1,600 2,000 600 Balance of Kilograms 1,000 3,500 2,800 1,600 3,100 2,300 700 2,700 2,100 Price per Kilogram $2.10 $2.25 Date Jan. 1 Beginning balance Purchased Issued Jan. 24 Feb. 8 Mar. 16 Issued Jun. 11 Aug. 18 Issued Sep. 6 Oct. 15 Dec. 29 Purchased $2.75 Issued Purchased Issued $2.80 If 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.

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Answer Answer is a 300 kilo 210 ... View the full answer