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:

3 Issued 250 yd.

5 Received 500 yd @ $4.50 each

6 Issued 150 yd.

10 Issued 110 yd.

11 Factory returned 10 yd, which were issued on the 10th, to the storeroom.

15 Received 500 yd @ $5.00 each

20 Returned 300 yd to the vendor from July 15 purchase

26 Issued 600 yd.