Question: The following data about material (X): 1/3 Beginning balance 1000 units, $6 per unit. 4/3 Issued 400 units for order 1. 7/3 Purchased 500 units,

The following data about material (X):

1/3 Beginning balance 1000 units, $6 per unit.

4/3 Issued 400 units for order 1.

7/3 Purchased 500 units, $5 per unit.

Required:

Prepare (store ledger account) of material, use (LIFO).

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