The details below relate to direct materials for one month: Opening inventory: $1\,000$ kg at $20$ per kg Purchases: $20\,000$ kg at $22$ per kg Closing inventory: $3\,500$ kg Inventory is measured by the first in, first out (FIFO) method. What was the cost of materials issued to production during the month?
- A$363\,000$
- B$367\,500$
- C$383\,000$
- D$385\,000$