Solution-Enter the beginning balance on a materials ledger

Enter the beginning balance on a materials ledger card

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Reference no: EM133006771

Question - Inventory Valuation Using Different Costing Method - The Papa Manufacturing Company uses the perpetual inventory system in controlling its materials. Data relating to Material X-5 during March 2018 are given below:

March 1: Balance, 1,000 units at P125 each.

March 5: Issued 400 units, Requisition 091.

March 9: Received 600 units at P140 each, Purchase Order 016.

March 13: Issued 850 units, Requisition 094.

March 22: Received 200 units at P145 each, Purchase Order 023.

March 29: Issued 250 units, Requisition 098.

Required - Enter the beginning balance on a materials ledger card for each of the two inventory costing methods; FIFO and moving average. Record each of the transactions on each of the material ledger cards. Round unit costs to the nearest centavo under the moving average costing method.

Reference no: EM133006771

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Enter the beginning balance on a materials ledger card

Reference no: EM133006771

Reference no: EM133006771

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