Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Q.1. Please answer 1 Not chedd Marked out of 14.00 Take me to the ted 3) Fill in the missing numbers in the inventory schedule
Q.1. Please answer
1 Not chedd Marked out of 14.00 Take me to the ted 3) 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 bones Bound all answers to 2 decimal place When calculating the unit cost round.to 2 deomapaces de Inventory Schedule Purchases Sales Balance Transaction Description Quantity Amount Quantity Amount Quantity Amount Opening 50 Balance Purchase from AAA 600 $6600.000 SO 600 S 6600 CO. Sale to SSS IS IS 300 3830000 Sale to TTT $ CO 1 12 15015 5 4 4 70 53.400.00 $ S Purchase from BBB CO Sale to UUD Co +5 5 3015 S b) If the FIFO method had been used, what would the value of COGS been for the sale to UUU CO? COGS dif 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 Step 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