Unfortunately, the wood Jon wanted was not available on 4 January and he had to purchase a more expensive type. However, he kept his order as small as possible and his supplier was able to meet his next order on 6 January. Using the followinginformation,, calculate the quantity and value of materials issued to production during the first week and the quantity and value of closing inventory at 7 January using FIFO cost and CWA cost.

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1 January 2 January 3 January 4 January 5 January 6 January 7 January Received 50 units at 3.00 per unit Received 50 units at 4.00 per unit Issued 50 units to production Received 10 units at 5.00 per unit Issued 40 units to production Received 40 units at 4.00 per unit Issued 30 units to production