HADES MANUFACTURING CO. Hades Company produces fruit juice. The company uses orange as direct materials for the production of orange juice. The purchases and issues of orange as shown in the records of Hades Company for the month of December follow: Dec. 1 Balance, 1,000 kg @ $20 Dec. 10 Issued 500 kg Dec. 15 Purchased 1,000 kg @ $24 Dec. 20 Issued 250 kg Dec. 26 Issued 500 kg Dec. 28 Purchased 500 kg @ $26 Dec. 30 Issued 500 kg Required: Compute the value of raw material inventory as of December 31, 2017 and the cost of direct material used in production for December 2017 according to each of the inventory valuation methods given below: Weighted Average Method and FIFO