The Benchley Company uses metal grates when assembling appliances. Information as to balances on hand, purchases, and requisitions of the grates is given in the following table.

If a perpetual inventory record of the metal grates is maintained on a FIFO basis, the September 6 issue will consist of:
a. 700 kilograms @ $2.00 and 500 kilograms @ $2.25.
b. 300 kilograms @ $2.00 and 900 kilograms @ $2.25.
c. 1,200 kilograms @ $2.25.
d. 1,000 kilograms @ $2.00 and 200 kilograms @ $2.25.
The Benchley Company uses metal grates when assembling appliances. Information as to balances on hand, purchases, and requisitions of the grates is given in the following table.

If a perpetual inventory record of the metal grates is maintained on a FIFO basis, the September 6 issue will consist of:
a. 165 units @ $3.10.
b. 15 units @ $2.80, 120 units @ $3.10 and 30 units @ $3.24.
c. 75 units @ $3.10 and 90 units @ $3.24.
d. 75 units @ $2.80 and 90 units @ $3.10.
The Bisset Corporation uses Raw Material A in a manufacturing process. Information as to balances on hand, purchases, and requisitions of Raw Material A is given in the following table. Raw Material A

If a perpetual inventory record of Raw Material A is maintained on a FIFO basis, 200 units on hand on August 18 will consist of:
a. 100 units @ $1.40, 80 units @ $1.55 and 20 units @ $1.62.
b. 150 units @ $1.62 and 50 units @ $1.55.
c. 100 units @ $1.55 and 100 units @ $1.62.
d. 200 units @ $1.55
The Benchley Company uses metal grates when assembling appliances. Information as to balances on hand, purchases, and requisitions of the grates is given in the following table.

If a perpetual inventory record of the metal grates is maintained on a FIFO basis, what costs are assigned to the 150 units in ending inventory?
a. 15 units @ $3.40 and 135 units @ $2.80.
b. 150 units @ $2.80.
c. 15 units @ $3.40 and 135 units @ $3.24.
d. 150 units @ $3.40

Date Transaction Number of Kilograms Price per Balance Kilogram of Kilograms Jan. Beginning1,000 $ 2.00 1,000 balance Jan. Purchased 2,500 $ 2.25 3,500 Feb. Issued 700 2,800 Mar Issued 16 1,200 1,600 Jun. Purchased1,500 $ 2.75 3,100 Aug. Issued 18 800 2,300 Sep. Issued 1,600 700 Oct. Purchased2,000 15 $2.80 2,700 Dec. Issued 29 600 2,100 Number of Units Unit Price Balance Units 150 Date Transaction Jan. 1 Beginning 150 $ 2.80 balance Jan. Purchased 450 $ 3.10 600 Feb. 8 Issued 120 480 Mar. Issued 16 210 270 Jun. Purchased 225 S 3.24 495 Aug. Issued 195 300 18 Sep. 6 Issued Oct. Purchased 165 135 225 $3.40 360 15 Dec. Issued 210 150 29 Date Jan 1 Beginning balance 100 Jan. 24Purchased Feb. 8 Issued Mar. 16 Issued Jun. 11 Purchased Aug. 18Issued Sep. 6 Issued Oct. 15 Purchased Dec. 29Issued Transaction Number of Units Unit Price Balance of Units 300 80 140 150 130 110 150 140 $ 11.40 | 100 si 1.55 | 400 320 180 162 330 200 90 $ 11.70 | 240 100 Number of Units Unit Price Balance of Units Date Transaction Jan. 1 Beginning 150 2.80 150 balance Jan. Purchased 450 3.10 600 Feb. 8 Issued Mar. Issued 16 Jun. 11 Purchased Aug. Issued 18 Sep. 6 Issued Oct. 15 Purchased Dec. Issued 29 120 480 210 270 225 $ 13.24 | 495 195 300 165 225 210 135 $ 3.40 360 150