Using the weighted average method of perpetual inventory costing and the information presented in E, compute the cost of materials used and the cost of the July 31 inventory. (Round unit prices to four decimal places and totals to the nearest whole dollar.)
In E, July 1 Balance on hand, 1,000 yd of linen @ $4.00 each.
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 the July 15 purchase.
26 Issued 600 yd.