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a) Fill in the missing numbers in the inventory schedule using the weighted-average cost inventory valuation method. This company uses the perpetual inventory system. Do

a) Fill in the missing numbers in the inventory schedule using the weighted-average cost inventory valuation method. This company uses the perpetual inventory system.

Do not enter dollar signs or commas in the input boxes. Round all answers to 2 decimal places. All unit cost calculations should be rounded to 2 decimal places as well.

Inventory Schedule
Purchases Sales Balance
Transaction Description Quantity Amount Quantity Amount Quantity Amount
Opening Balance 0 $ 0
May 5 Purchase from AAA Co. 600 $7,800.00

Answer

$Answer

Answer

$Answer

May 7 Sale to SSS Co.

Answer

$Answer

Answer

$Answer

300 $3,900.00
May 13 Sale to TTT Co.

Answer

$Answer

150

$Answer

Answer

$Answer

May 15 Purchase from BBB Co. 80 $1,360.00

Answer

$Answer

Answer

$Answer

May 24 Sale to UUU Co.

Answer

$Answer

40

$Answer

Answer

$Answer

May 28 Purchase from CCC Co. 70 $1,050.00

Answer

$Answer

Answer

$Answer

b) If the FIFO method had been used, what would the value of COGS been for the sale to UUU Co.?

COGS = $Answer

c) If the specific identification method had been used, what would the value of COGS been for the sale to UUU Co.? Assume all the units were purchased from BBB Co.

COGS = $Answer

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