Solution-Record each of the transactions on each of the

Record each of the transactions on each of the materials

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Reference no: EM132633854

The Jing Manufacturing Company uses a perpetual inventory system to control materials. Data relating to Material B-1 during March 2018 are given below:

March1: Balance, 150 units at P40.00 each.

6: Received 200 units at P40.50 each per Purchase Order 074.

12: Issued 225 units per Requisition 018.

14: Received 250 units at P41.00 each per Purchase Order 083.

17: Issued 200 units per Requisition 023.

31: Issued 40 units per Requisition 019.

Required:

Question 1: Enter the beginning balance in the Materials Ledger Card for each of the three inventory costing methods: FIFO, LIFO, and moving average method. Record each of the transactions on each of the materials ledger cards. Round unit costs to the nearest centavo under the moving average method.

Reference no: EM132633854

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Record each of the transactions on each of the materials

Reference no: EM132633854

Reference no: EM132633854

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