Cost of Materials Issuances Under the FIFO Method An incomplete subsidiary ledger of materials inventory for May is as follows: Question Content Area a.  Complete the materials issuances and balances for the materials subsidiary ledger under FIFO. ReceivedReceivingReportNumber ReceivedQuantity ReceivedUnitPrice IssuedMaterialsRequisitionNumber IssuedQuantity IssuedAmount BalanceDate BalanceQuantity BalanceUnitprice BalanceAmount             May 1 360 $7 $2,520 26 250 $9       May 4 fill in the blank 1 of 20 fill in the blank 2 of 20 fill in the blank 3 of 20               fill in the blank 4 of 20 fill in the blank 5 of 20 fill in the blank 6 of 20       102 410 fill in the blank 7 of 20$ May 10 fill in the blank 8 of 20 fill in the blank 9 of 20 fill in the blank 10 of 20 32 170 11       May 21 fill in the blank 11 of 20 fill in the blank 12 of 20 fill in the blank 13 of 20               fill in the blank 14 of 20 fill in the blank 15 of 20 fill in the blank 16 of 20       115 240 fill in the blank 17 of 20 May 27 fill in the blank 18 of 20 fill in the blank 19 of 20 fill in the blank 20 of 20

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Cost of Materials Issuances Under the FIFO Method

An incomplete subsidiary ledger of materials inventory for May is as follows:

Question Content Area

a.  Complete the materials issuances and balances for the materials subsidiary ledger under FIFO.

Received
Receiving
Report
Number
Received
Quantity
Received
Unit
Price
Issued
Materials
Requisition
Number
Issued
Quantity
Issued
Amount
Balance
Date
Balance
Quantity
Balance
Unit
price
Balance
Amount
            May 1 360 $7 $2,520
26 250 $9       May 4 fill in the blank 1 of 20 fill in the blank 2 of 20 fill in the blank 3 of 20
              fill in the blank 4 of 20 fill in the blank 5 of 20 fill in the blank 6 of 20
      102 410 fill in the blank 7 of 20$ May 10 fill in the blank 8 of 20 fill in the blank 9 of 20 fill in the blank 10 of 20
32 170 11       May 21 fill in the blank 11 of 20 fill in the blank 12 of 20 fill in the blank 13 of 20
              fill in the blank 14 of 20 fill in the blank 15 of 20 fill in the blank 16 of 20
      115 240 fill in the blank 17 of 20 May 27 fill in the blank 18 of 20 fill in the blank 19 of 20 fill in the blank 20 of 20
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