2. The following information appears on the stock card for material B for April, 2018:700 units @ P5.00Beginning balance:2,500 units @ P6.002,000 units @ P5.503,000 units @ P5.80Purchases: April 101827Issuances: April 112.000 units for Job No. 7615700 units for Job No. 791,500 units for Job No. 75600 units for Job No. 792025301,500 units for Job No. 76On April 19, 200 units of the April 18 delivery was returned to the supplier forbeing defective. Accordingly, a credit memo was received from the latter.On April 29, 100 units were returned to the storeroom by the department thatmade the requisition last April 20.Using FIFO costing method, how much materials cost must be charged to the variousjob orders in April, 2018?Job Order No. 75Job Order No. 76Job Order No. 79P7,950P19,910P18,250P7,500P7,500a.b.P9,000C.P8,500P19,910P7,500d.None of the above; answer is

In FIFO inventory costing, we issue inventory in such a manner that inventory which comes first must…

Answered: Using FIFO costing method, how much…

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Using FIFO costing method, how much materials cost must be charged to the various job orders in April, 2018?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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What is the answer for number 32?
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