(8.66 Purchase price variance (Appendix A). Rush and Company values all of its inventories at standard cost. This feature also means that Rush values at standard cost all materials issued out from inventory into production. Rush began the month of August with 4,000 kilograms (kg) of chromic acid in stock and valued this inventory at $8,000. During August, the following transactions occurred: Date Transaction Units Cost August 10 Purchase 1,000 kg $2,150 0 August 15 Issued out 2,000 kg ? August 22 Purchase 800 kg $1,632 August 29 Issued out 1,000 kg ? Required: a. What is the value of Rush's ending inventory and the cost of chromic acid issued out for August? b. What is Rush's purchase price variance for August? c. Fill in the following table to illustrate the relations between the purchase price, the purchase price variance, and inventory values. Item Kgs. Value Beginning inventory + Purchases - Issued out +/- Purchase price variance = Ending inventory 8.67 Sales mariano