5254657&id=39052295&nbld=141526&snapshotid%31415268 LO3 The purchases and issues of rubber gaskets (Materials Ledger #11216) as shown in the records of Hillsdale Corp. for November follow: Units Unit Price Nov. 1 Beginning balance 30,000 $3.00 4 Received, Rec. Report No. 112 10,000 3.10 Issued, Mat. Reg. No. 49 30,000 Received, Rec. Report No. 113 Issued, Mat. Reg. No. 50 50,000 3.30 15 20,000 Received, Rec. Report No. 114 25,000 30,000 22 3.50 28 Issued, Mat. Req. No. 51 Required: 1. Complete a materials ledger account similar to Eigure 2.10 (the "On Order" columns should be omitted) for each of the following inventory costing methods, using a perpetual inventory system: a. FIFO b. LIFO c. Welghted average (carrying unit prices to five decimal places) 2. For each method, prepare a schedule that shows the total cost of materials transferred to Work in Process and the cost of the ending inventory. 3. If prices continue to increase, would you favor adopting the FIFO or the LIFO method? Explain. 4. When prices continue to rise, what is the effect of FIFO versus