During June, the receipts and issuances of Material No. A2FO are as follows:
| Received | ||
| June 3 | Balance | 1,100 units at $15 |
| 16 | 1,700 units at $17 | |
| 29 | 900 units at $18 | |
| Issued | ||
| June 11 | 700 units for Job No. 116 | |
| 18 | 1,900 units for Job No. 117 | |
| 30 | 800 units for Job No. 118 | |
| (a) | Determine the cost of each of the three issues under a perpetual system, using the first in, first out method. |
| (b) | Present the journal entry to record the issuance of the materials for the month, assuming that the cost of issuances is determined by the first in, first out method. |