Port Harcourt Refineries Ltd uses the FIFO method for pricing material issues. Receipts and issues during April 2024 were: 1 Apr — Opening balance 200 units @ ₦500; 5 Apr — Received 300 units @ ₦600; 10 Apr — Issued 350 units; 20 Apr — Received 400 units @ ₦650; 28 Apr — Issued 250 units. What is the total cost of materials issued during April 2024?

Issue on 10 Apr (350 units, FIFO): 200 units @ ₦500 = ₦100,000; then 150 units @ ₦600 = ₦90,000; subtotal = ₦190,000. Balance after: 150 units @ ₦600. Issue on 28 Apr (250 units, FIFO): 150 units @ ₦600 = ₦90,000; then 100 units @ ₦650 = ₦65,000; subtotal = ₦155,000. Wait — after 10 Apr issue, remaining = 150 units @ ₦600. After 20 Apr receipt: 150 @ ₦600 + 400 @ ₦650. Issue 28 Apr: 150 @ ₦600 = ₦90,000 + 100 @ ₦650 = ₦65,000 = ₦155,000. Total issued = ₦190,000 + ₦155,000 = ₦345,000. Re-checking: 200×500=100,000; 150×600=90,000; first issue=190,000. Second issue: 150×600=90,000; 100×650=65,000; =155,000. Grand total=345,000.