Question

Fill in the missing numbers in the inventory schedule using the weighted-average cost inventory valuation method. This company uses the perpetual inventory system. Inventory Schedule Purchases Sales Balance Transaction Description Quantity Amount Quantity Amount Quantity Amount Opening Balance 0 $0.00 #1 Purchase from AAA Co. 600 $6,600.00 Answer $Answer Answer $Answer #2 Sale to SSS Co. Answer $Answer Answer $Answer 300 $3,300.00 #3 Sale to TTT Co. Answer $Answer 150 $Answer Answer $Answer #4 Purchase from BBB Co. 70 $1,400.00 Answer $Answer Answer $Answer #5 Sale to UUU Co. Answer $Answer 30 $Answer Answer $Answer b) If the FIFO method had been used, what would the value of COGS have been for the sale to UUU Co.? COGS = $Answer c) If the specific identification method had been used, what would the value of COGS have been for the sale to UUU Co.? Assume all the units were purchased from BBB Co. COGS = $Answer

          Fill in the missing numbers in the inventory schedule using the weighted-average cost inventory valuation method. This company uses the perpetual inventory system.

Inventory Schedule
Purchases
Sales
Balance
Transaction
Description
Quantity
Amount
Quantity
Amount
Quantity
Amount
Opening Balance
0
$0.00
#1
Purchase from AAA Co.
600
$6,600.00
Answer
$Answer
Answer
$Answer
#2
Sale to SSS Co.
Answer
$Answer
Answer
$Answer
300
$3,300.00
#3
Sale to TTT Co.
Answer
$Answer
150
$Answer
Answer
$Answer
#4
Purchase from BBB Co.
70
$1,400.00
Answer
$Answer
Answer
$Answer
#5
Sale to UUU Co.
Answer
$Answer
30
$Answer
Answer
$Answer

b) If the FIFO method had been used, what would the value of COGS have been for the sale to UUU Co.?
COGS = $Answer

c) If the specific identification method had been used, what would the value of COGS have been for the sale to UUU Co.? Assume all the units were purchased from BBB Co.
COGS = $Answer

Added by Robert J.

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