The ? mark\'s are what I am stuck on any help would be appreciated. Cost of mate
ID: 2353943 • Letter: T
Question
The ? mark's are what I am stuck on any help would be appreciated. Cost of materials Issuance's Under the FIFO Method An incomplete subsidiary ledger of wire cable for June is as follows: a. complete the materials issuance and balances for the wire cable subsidiary ledger under FIFO. Received Issued Balance Requisition Quantity Unit Material Quantitiy Amount Date Quantity unit price amount report # Price Requisition # June 1 350 $10.00 $3500 26 250 $12.00 June 2 250 $12.00 $3000 103 380 ? June 6 ? ? ? 32 160 $14.00 June 12 ? ? ? ? ? ? 111 240 ? June 21 ? ? ? b. determine the balance of wire cable at the end of June $1960 c.Journalize the summary entry to transfer materials to work in process Work in Process ? Materials ?Explanation / Answer
the data u gave isnt clear so ill tell u the general accounting under FIFO see this link for example u will surely understand how to do it http://www.accounting4management.com/fifo_method_of_materials_costing.htm#Example
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