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Question
The balance of Material Q on May 1 and the receipts and issuances during May are as follows:
| Balance, May 1 | 8 at $32 |
| Received, May 11 | 23 at $33 |
| Received, May 25 | 15 at $35 |
| Issued, May 17 | 14 |
| Issued, May 27 | 18 |
Determine the cost of each of the issuances under a perpetual system, using the FIFO method.
Answer
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