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Instructions The following transactions affecting material No. 115-8, occurred during March 2012. March 1 Balance on hand 500 gallons @ $ 20/ gallon March 2

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Instructions The following transactions affecting material No. 115-8, occurred during March 2012. March 1 Balance on hand 500 gallons @ $ 20/ gallon March 2 Received 1200 gallons @ $21/ gallon March 3 Issued 600 gallons March 5 Received 1000 gallons @ $ 19/gallon March 10 issued 900 gallons March 14 Received 600 gallons @ $ 20/gallon March 18 Issued 800 gallons March 22 issued 400 gallons March 26 Received 1500 gallons @ $18/gallon March 30 Issued 700 gallons Required: Prepare material ledger card using FIFO and Moving Average Method

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