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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. When calculating the unit cost, round to 2 decimal places as well.
Inventory Schedule | |||||||
Purchases | Sales | Balance | |||||
Transaction | Description | Quantity | Amount | Quantity | Amount | Quantity | Amount |
Opening Balance | 0 | $ 0 | |||||
#1 | Purchase from DD Co. | 500 | $7,000.00 | Answer | $Answer | Answer | $Answer |
#2 | Sale to EE Co. | Answer | $Answer | Answer | $Answer | 250 | $3,500.00 |
#3 | Sale to FF Co. | Answer | $Answer | 125 | $Answer | Answer | $Answer |
#4 | Purchase from GGG Co. | 90 | $1,620.00 | Answer | $Answer | Answer | $Answer |
#5 | Sale to HH Co. | Answer | $Answer | 50 | $Answer | Answer | $Answer |
b) What is the value of ending inventory?
Ending Inventory = $Answer
c) What is the total COGS for all the sales presented in this question?
COGS = $Answer
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