ISBN:9781305254657&id=39052295&nbid=1415268 snapshot 1415268 Materials P2-6 Inventory Costing Methods 103 The following transactions affecting materials occurred in February Feb. 1 5 11 14 Balance on hand, 1,200 ft @ $2.76, $3,312.00 (plastic tubing, materials ledger account #906). Issued 60 ft to production on Materials Requisition No. 108. Issued 200 ft on Materials Requisition No. 210. Received 800 it from a supplier, Receiving Report No. 634, price $2.80 per ft. Issued 400 ft, Materials Requisition No. 274. Returned to a supplier for credit, 90 ft purchased on February 14, which were found to be defective. Received 1,000 ft. Receiving Report No. 712, price $2.83 per ft. Issued 640 ft, Materials Requisition No. 318. 15 16 18 21 Required: Record the transactions in materials ledger accounts similar to Egure 2:10. (The "On Order" columns should be omitted.) Use the following inventory methods, assuming the use of a perpetual inventory system. Carry unit prices to four decimal places 1. FIFO 2. LIFO 3. Weighted average CEMA