Record each transaction using the moving average method of inventory costing. Show your solution.

Problem 4-3: Using Different Inventory Costing Methods. Jhena Furniture Company, a manufacturer of office furniture, uses a perpetual inventory system to control materials. During May 2018, the following transactions took place in completing an order for office chairs and tables: May 1: Material A - 42: Balance, 271 units @ P9.50 Material 8- 18: Balance, 83 units @ P7.00 Issued 110 units of Material A-42 per Requisition 032 Received 650 units of Material A-42 at P10.20 and 650 units of Materials B-18 at P6.50. These materials were ordered on Purchase Order 507 Issued 175 units of Material B-18 per Requisition 034,C- Issued 150 units of Material A-42 per Requisition 036 Issued 80 units of Material B-18 per Requisition 046 2: 3: 8: 12: 26: Received 650 units of Material B-18 at P5.90 per Purchase Order 061 Issued 210 units of Material A-42 and 382 units of Material B- 18 on Materials Requisition 082 31: Problem 4-3: Using Different Inventory Costing Methods. Jhena Furniture Company, a manufacturer of office furniture, uses a perpetual inventory system to control materials. During May 2018, the following transactions took place in completing an order for office chairs and tables: May 1: Material A - 42: Balance, 271 units @ P9.50 Material 8- 18: Balance, 83 units @ P7.00 Issued 110 units of Material A-42 per Requisition 032 Received 650 units of Material A-42 at P10.20 and 650 units of Materials B-18 at P6.50. These materials were ordered on Purchase Order 507 Issued 175 units of Material B-18 per Requisition 034,C- Issued 150 units of Material A-42 per Requisition 036 Issued 80 units of Material B-18 per Requisition 046 2: 3: 8: 12: 26: Received 650 units of Material B-18 at P5.90 per Purchase Order 061 Issued 210 units of Material A-42 and 382 units of Material B- 18 on Materials Requisition 082 31