Question
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. 400 $4,800.00 Answer $Answer Answer 400
$Answer 4800
May 7 Sale to SSS Co. Answer $Answer Answer
$Answer
200 $2,400.00 May 13 Sale to TTT Co. Answer $Answer 100 $Answer
Answer
$Answer
May 15 Purchase from BBB Co. 70 $1,120.00 Answer $Answer Answer
$Answer
May 24 Sale to UUU Co. Answer $Answer 30 $Answer
Answer
$Answer
May 28 Purchase from CCC Co. 70 $980.00 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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