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new help to figure out how to get the next amounts for conclusion Cost of Materials Issuances Under the FIFO Method An incomplete subsidiary ledger
new help to figure out how to get the next amounts for conclusion
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 Receiving Materials Unit Report Quantity Requisition Quantity Amount Price Number Number Balance Date Quantity Unit price Amount May 1 330 9 $9 $2,970 26 230 $11 May 4 330 o 2,970 230 11 101066I 2,530 101 370 May 10 11 32 160 13 May 21 11 13 114 220 May 27 13 b. Determine the materials inventory balance at the end of May. Check My W b. Calculate the amount of each materials in FIFO in the Batance section, separate cach different unt price and quantity G. Journalize the summary entry to transfer materials to work in process. If an amount box does not require an entry leave it blank 88 Step by Step Solution
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