#1 (2) - Word (Product Activation Failed) A Rosealee Reid Asha Problem 2 (20 points) The materials account of the Herbert Company reflected the following changes during August: Balance, August 1 18 units @ $200 Received, August 2 6 units @ $210 Issued, August 8 Bunits Received, August 15 10 units @ $222 Issued, August 27 15 units Assuming that Herbert Company maintains perpetual inventory records, calculate the cost of the ending inventory at August 31 and the cost of the units issued in August using the LIFO method. Problem 3 (20 points) The following accounts are maintained by the Sprague Manufacturing Company in its general ledger: Materials, Work in Process, Factory Overhead, and Accounts Payable. The materials account had a debit balance of $40,000 on November 1. A summary of material transactions for November shows: (1) Materials purchased on account, $62,000 (2) Direct materials issued, $58,500 (3) Direct materials returned to storeroom, $1,200 (4) Indirect materials issued, $3,600 (5) Indirect materials returned to storeroom, $550 (6) Materials on hand were $200 less than the stores ledger balance Prepare journal entries to record the materials transactions. 02 ? A A W W ) 7:34 AM 1/28/2020