The Balance of Material Q on May 1 and the Receipts

Essay

The balance of Material Q on May 1 and the receipts and issuances during May are as follows:? $\begin{array}{lr}\text { Balance, May } 1 & 8 \text { at } \$ 32 \\\text { Received, May } 11 & 23 \text { at } \$ 33 \\\text { Received, May } 25 & 15 \text { at } \$ 35\\\\\text { Issued, May } 17 & 14 \\\text { Issued, May } 27 & 18\end{array}$ Determine the cost of each of the issuances under a perpetual system, using the FIFO method.