Question
a) Fill in the missing numbers in the inventory schedule using the weighted-average cost inventory valuation method. This company uses the perpetual invento system.
a) Fill in the missing numbers in the inventory schedule using the weighted-average cost inventory valuation method. This company uses the perpetual invento system. Do not enter dollar signs or commas in the input boxes. Round all answers to 2 decimal places. When calculating the unit cost, round to 2 decimal places as well. Inventory Schedule Transaction Description Opening Balance Purchases Sales Balance Quantity Amount Quantity Amount Quantity Amount 0 $0 #1 Purchase from DD Co. 400 $5,600.00 #2 Sale to EE Co. 200 $2,800.00 #3 Sale to FF Co. 100 $ #4 Purchase from GGG Co. 90 $1,530.00 #5 Sale to HH Co. 40 $ b) If the FIFO method had been used, what would the value of COGS been for the sale to HH Co.? COGS = $ c) If the specific identification method had been used, what would the value of COGS been for the sale to HH Co.? Assume 20 of the units sold to HH Co. were purchased from DD Co and the other 20 units were purchased from GGG Co. COGS = $
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