$3.$ Scenario: Yanbar Ltd uses a perpetual inventory system. The company policy states that $$the unit cost of inventory is assigned using the weighted average cost method as per AASB $102$ Inventories$.$

a$)$ During the month of June $2022,$ the company had the following transactions for Material A$.$ Prepare a raw material inventory card using the method for inventory costing as per company policy.

$1$ June Opening Balance $50$ units @ $$8\mathrm{.}00$

$2$ June Purchases $60$ units @ $$8\mathrm{.}50$

$3$ June Issues $80$ units

$4$ June Purchases $75$ units @ $$9\mathrm{.}00$

$5$ June Issues $50$ units

b$)$ Prepare the journal entry necessary to charge the raw material issued to the production process.

c$)$ With reference to AASB$102$ Inventories, what other systems or methods may be used to assign costs to inventories?

NOTE: Use the inventory cards and blank General Journal extracts on the following page for your answer.