1-The movements in the raw materials balance in a company within the month of May are as follows. What is the direct material cost during May if we employ FIFO? What is the ending balance of raw materials?

2-Refer to Question 1. What is the direct material cost during May if we employ LIFO? What is the ending balance of raw materials?

3-Refer to Question 1. What is the direct material cost during May if we employ weighted average method? What is the ending balance of raw materials?

4-Refer to Question 1. Suppose that we employ FIFO. What would be the relevant journal entry on May 25th?

\begin{tabular}{|l|l|c|c|} \hline DATE & STATEMENT & AMOUNT & TOTAL \\ \hline 1.May & Opening raw materials balance & 300kg & 17,400.00 \\ \hline 5.May & Cash purchase & 600kg & 43,188.00 \\ \hline 10.May & Consumption & 400kg & \\ \hline 20.May & Purchase on account & 500kg & 37,760.00 \\ \hline 25.May & Consumption & 800kg & \\ \hline \end{tabular}