I have attached the forms I have to use. For E-2 FIFO costing, using first in, first out; perpetual inventory costing; and the following information, determine the cost of materials used and the cost of the July 31 inventory: July 1 Balance on hand,1,000yd of linen @$4.00each. July 3 issued 250yd July 5 received 500yd@$4.50 each. July 6 issued 150yd. July 10 issued 110 yd. July 11 factory returned 10yd,which were issued on the 10th, to the store room. July 15 received 500yd@$5.00 each. July 20 returned 300yd to the vendor from the July 15 purchase. July 26 issued 600yd. Also have to total up Cost of materials issued and cost of 5/31 inventory. P2-1 Marino Company predicts that it will use 25,000 units of material during the year. the expected daily usage is 200 units, and there is an expected leadtime of five days and a desired safety stock of 500 units. The material is expected to cost $5 per unit. Marino anticipates that it will cost $50 t place each order. the annual carrying cost is $0.10 per unit. Required:1.compute the order point 2.determine the most economical order quantity by use of the formula. 3.Calculate the total cost of ordering and carrying at the EOQ point. P2-2 Cortez Chemical, Inc., requires 20,000 gallons of material annually; the cost of placing an order is $20, and the annual carrying cost per gallon is $5. Required Determine the EOQ from potential order sizes of 300,400,500,600,700, and 800 gallons. I greatly would appreciate the help!!

Name: Section: Janna Turner Acc2020 When subtotals and totals are correct the cell will turn to green. Exercise 2-2 a. EOQ = square root of (2CN/K) C= 72 N= 360,000 K= 4 EOQ = 3,600 units b. Number of orders = Annual usage/EOQ Annual usage = 360,000 EOQ = 3,600 Ordering cost: Carrying cost: Total order and carrying cost 100 orders $7,200 400 $7,600 Name: Section: Janna Turner ACC2020 When entries in amount columns are correct the cell will turn to green. Exercise 2-6 First-in, First-out method RECEIVED Date Quantity Unit Price 7/1 7/3 7/5 500 4.50 Amount Quantity 250 ISSUED Unit Price 4.00 Amount 1,000.00 2,250.00 7/6 150 4.00 600.00 7/10 110 110 4.00 4.50 440.00 7/11 7/15 7/20 7/26 Cost of materials used (issued): Cost of 5/31 inventory: BALANCE Quantity Unit Price 1,000 4.00 750 4.00 750 4.00 500 4.50 150 4.00 500 4.50 Amount 4,000.00 3,000.00 5,250.00 4,650.00 Name: Section: Problem 2-1 When calculationsumbers are correct the cell will change to green. 1 Compute the order point. Units per day = Days = Safety Stock = Order Point = units 2 Determine the most economical oder quantity by use of formula EOQ = square root of (2CN/K) C= N= K= EOQ = units 3 Calculate the toatol cost of ordering and carrying at EOQ Annual usage = units Units per order = units Number of orders = orders Ordering cost = Safety stock = units Ave. no. of units in inventory = units Carrying cost per unit = Carry cost = Total cost = Name: Section: Problem 2-2 When amounts entered into the cells are correct the cell will change to green. Order Size 300 400 500 600 700 800 Number of Orders Total Order Cost Average Inventory 20,000 = gallons of material annually $20 = cost of placing an order $5 = carrying cost per unit EOQ = Total Carrying Cost Total Ordering & Carrying Cost