le cost of materials issued into production and the cost of the August 31 inventory under each of the following costing methods (Round per unit amounts to three decimal places and total amounts to the nearest dollar.): 1. FIFO 2. LIFO 3. Weighted average E2-7 FIFO costing Using first-in, first-out perpetual inventory costing and the follow- ing information, determine the cost of materials used and the cost of the July 31 inventory: LO3 July 1 3 la 5 6 10 11 Balance on hand, 1,000 yd of linen @ $4.00 each. Issued 250 yd. Received 500 yd @ $4.50 each. Issued 150 yd. Issued 110 yd. Factory returned 10 yd, which were issued on the 10th, to the storeroom. Received 500 yd @ $5.00 each. Returned 300 yd to the vendor from the July 15 purchase. Issued 600 yd. 15 26