Hi Expert,

I need help with the following questions.

FIFO Method.

Can you please help?

Chapter 4 . Materials & Labour 187 67 24 1 rds using 7. Mur Ray Pry Lid uses a perpetual inventory system. The unit cost of inventory is ch. assigned using the FIFO method. During April the company had the following transactions for an inventory item in the factory store: April 1 Beginning inventory 160 @ $12.20 Issues to Job 565 $1,952 ...... 100 units 10 Purchases on credit 120 @ $12.80 $1,536 18 Issues to Job 570 160 units 20 Purchases 60 @ $13.40 $804 23 Returns from Job 570 20 units ..... .... 24 Returns to supplier (from purchases Apr 20) 20 units Required: (a) Prepare an inventory ledger card (stock card) to record the above. (b) Prepare a general journal entry to record the total issues for April. (