During August, the receipts and distributions of Material No. B4G9 are as follows: 
a.Determine the cost of each of the three issues under a perpetual system, using the first-in, first-out method.
b.Journalize a summary 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.
Definitions:
Face Card
A playing card that depicts a human figure, such as a king, queen, or jack, as opposed to numerical cards.
Ace Of Hearts
A playing card in the hearts suit, regarded in some games as having a value or significance above the others.
Probability Model
A mathematical framework that quantifies the likelihood of various outcomes in an experiment or event.
Random Variable X
A variable whose values depend on outcomes of a probabilistic phenomenon, with each of its outcomes assigned a numerical value.
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