Answered step by step
Verified Expert Solution
Question
1 Approved Answer
KINDLY ANSWER THOSE WITH RED X MARK ONLY THANKS Balance Do not enter dollar signs or commas in the input boxes. Round all answers to
KINDLY ANSWER THOSE WITH RED X MARK ONLY THANKS
Balance 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 Transaction Description Quantity Amount Quantity Amount Opening Balance 1 Purchase from AAA Co. 400 $5,600.00 Quantity Amount 0 $0 400 5600 #2 Sale to SSS Co. $ Not answered 2800 200 $2,800.00 #3 Sale to TTT Co. $ 100 $ 1400 100 1400 #4 Purchase from BBB Co. 80 $1,600.00 $ 180 3000 #5 Sale to UUU Co. 40 $ 560 x 140 2440 x b) If the FIFO method had been used, what would the value of COGS been for the sale to UUU Co.? COGS = $ 5600 X 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 = $ 800 Check ote: The "check" button does not submit your attempt. To submit the attempt go to the end of the quiz and click on the "submit all and finish" button. Partially correct Marks for this submission: 11.00/14.00Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started