Required: Show the inventory card for this item, showing the cost of the materials issued for production and the cost of stocking at the end of the month? Under the first-in-first-out method
An example should follow the statement of the movement of an item during the month of September 2013
September of 2017 as follows:
1. On 1/9, the material balance was 300 units, the unit price was 500 dinars
2. On 5/9, 50 units were disbursed according to the 60 exchange voucher,
3. On 9/8, 100 units were received at a unit price of 600 dinars, according to the 105 purchase list.
4- On 9/10, 100 units were disbursed according to the exchange voucher 61.
Dr.. On 9/15, the returns of the material from production centers to the warehouse amounted to 20 units of the quantity disbursed on 5/9 according to Return Document No.
6- On 20/9, 80 units were disbursed according to the exchange document 62.
7. On 9/25, 150 units were disbursed according to the exchange voucher 63.
8- On 9/27, 15 units were disbursed according to the 64 exchange document.
And on 9/29, 50 units were received, unit price of 800 dinars, according to the purchase list of 150
10 On 9/30, 40 units were disbursed according to the exchange voucher 65.
Required: Show the inventory card for this item, showing the cost of the materials issued for production and the cost of stocking at the end of the month?
Under the first-in-first-out method
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