The following are the transactions for Happy Industries: 6/1 Raw materials on hand was 1,000 units valued
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Question:
The following are the transactions for Happy Industries:
6/1 Raw materials on hand was 1,000 units valued at 2,000
6/3 Purchased 5,000 units on account amounting to 11,000
6/4 issued 800 units to production
6/5 returned 500 units to supplier
6/6 issued 2,200 units to production
6/8 Purchased 8,000 units at 2.10 per unit
6/10 Issued 2,000 units to production
6/11 Paid supplier and was awarded a 2% cash discount
6/15 Issued 3,500 units to production
6/20 Purchased 3,500 units at 2.05 per unit
Using FIFO method , how much is cost of materials issued?
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