Problem 2-6 Inventory Costing Methods The following transactions affecting materials occurred in February: Feb. 1 Balance on hand, 1,200 ft@$2.76, $3312.00 (plastic tubing, materials ledger account #906). 5 Issued 60 ft to production on Materials Requisition No. 108 11 Issued 200 ft on Materials Requisition No. 210. 14 Received 800 ft from a supplier, Receiving Report No. 634, price $2.80 per ft 15 Issued 400 ft, Materials Requisition No. 274 16 Returned to a supplier for credit, 90 ft purchased on February 14, which wore found to be defective Received 1,000 ft, Receiving Report No. 712, price $2.83 per ft. Issued 640 ft, Materials Requisition No. 318. 18 21 Record the transactions in materials ledger accounts similar to Figure 2-10. (The On Order" columns should be omitted.) Use the following inventory methods, assuming the use of a perpetual inventory system. Round the Amount" columns to the nearest cent. If necessary, round unit prices to four decimal places and use that rounded number in subsequent computations