(Appendix) Materials Costing Methods. Kenney Company made the following materials purchases and issues during January: LO2 Units Price Inventory: Jan.1.

. 500

$1.20 Receipts: Jan.6.

. 200 1.25 10.

. 400 1.30 25.

. 500 1.40 Issues: Jan.15.

. 560 27.

. 400 Required: Compute the cost of materials consumed and the cost assigned to the inventory at the end of the month, using a perpetual inventory system combined with each of the following:

(1) Average costing, rounding unit costs to the nearest cent

(2) Fifo costing

(3) Lifo costing