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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.
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 Answer Answer $Answer #1 Purchase from AAA Co. 400 $4,000.00 400 $Answer 4000 Answer $Answer #2 Sale to SSS Co. Answer 200 $Answer 2000 200 $2,000.00 $Answer Answer Answer $Answer #3 Sale to TTT Co. 100 1000 100 $Answer 1000 Answer $Answer #4 Purchase from BBB Co. 80 $1,280.00 Answer 180 $Answer 2280 $Answer Answer $Answer Answer $Answer #5 Sale to UUU Co. 30 ? 150 ? b) If the FIFO method had been used, what would the value of COGS been for the sale to UUU Co.? COGS = $Answer 300 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. 480 COGS = $Answer
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