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Cost of Materials Issuances Under the FIFO Method An incomplete subsidiary ledger of materials inventory for May is as follows: Complete the materials issuances and
Cost of Materials Issuances Under the FIFO Method An incomplete subsidiary ledger of materials inventory for May is as follows:
Complete the materials issuances and balances for the materials subsidiary ledger under FIFO.
Received | Issued | Balance | |||||||||
Receiving Report Number | Quantity | Unit Price | Materials Requisition Number | Quantity | Amount | Date | Quantity | Unit price | Amount | ||
May 1 | 310 | $6 | $1,860 | ||||||||
26 | 220 | $8 | May 4 | ||||||||
108 | 350 | $ | May 10 | ||||||||
32 | 150 | 10 | May 21 | ||||||||
121 | 210 | May 27 |
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