Accounting

A v2.cengagenow.com ents - 2020FA-ACCT-2302-41640 2020FA Prin of ... HWK CH 16 CengageNOWv2 | Online teaching and learning resource from Cengage Learning eBook Calculator Cost of Materials Issuances Under the FIFO Method An incomplete subsidiary ledger of materials inventory for May is as follows: a. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO. Received Issued Balance Receiving Report Quantity Unit Materials Requisition Unit Number Price Quantity Amount Date Number Quantity price Amount May 1 280 $2,240 23 200 $10 May 4 200 10 EX 4,240 X 480 X -2,640 107 320 TA 2,640 May 10 -320 X 10 1,600 29 130 May 21 130 X 12 3,160 X 290 X -1,960 X 120 190 1,960 V May 27 100 7 12 V 1,200 7 Feedback Check My Work a. Calculate the amount of each materials issue, using FIFO. In the Balance section, separate each different unit price and its quantity. b. Determine the materials inventory balance at the end of May. 1,200 V Feedback Check My Work |0 more Check My Work uses remaining. Previous Next Assignment Score: 68.63% All work saved. Save and Exit Submit Assignment for Grading