. Following information is available with respect to raw material M200 for the month of May...

  

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. Following information is available with respect to raw material M200 for the month of May 2020. Date Explanation Quantity May 1 Beginning Balance 5 Purchased 10 Issued (Used) Unit Price 600 units $190 per unit 200 units $210 per unit 700 units ? Amount (Total Cost) $114,000 $42,000 ? Required: Determine the cost of materials used and the cost of ending inventory using a) FIFO b) LIFO and c) Moving Average methods of inventory valuation. . Following information is available with respect to raw material M200 for the month of May 2020. Date Explanation Quantity May 1 Beginning Balance 5 Purchased 10 Issued (Used) Unit Price 600 units $190 per unit 200 units $210 per unit 700 units ? Amount (Total Cost) $114,000 $42,000 ? Required: Determine the cost of materials used and the cost of ending inventory using a) FIFO b) LIFO and c) Moving Average methods of inventory valuation.

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