An incomplete subsidiary ledger of wire cable for August is as follows: a. Complete the materials issuances
Question:
An incomplete subsidiary ledger of wire cable for August is as follows:
a. Complete the materials issuances and balances for the wire cable subsidiary ledger under FIFO.
b. Determine the balance of wire cable at the end of August.
c. Journalize the summary entry to transfer materials to work in process.
d. Explain how the materials ledger might be used as an aid in maintaining inventory quantities onhand.
Transcribed Image Text:
RECEIVED ISSUED BALANCE Receiving Materials Unit Requisition Report Number Quantity Pric Number Quantity AmountDate Quantity Amount Price Unit Aug. 2003,200 $16.00 Aug. 3 Aug. 5 Aug. 19 Aug. 25 110 240 $18.00 108 300 139 160 20.00 120 180
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a Aug 5 issuance 200 at 1600 3200 100 at 1800 1800 5000 Aug 25 issuance 140 at 1800 2520 40 at 2000 ...View the full answer
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Related Book For
Accounting
ISBN: 978-0324401844
22nd Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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