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1071690&page=23 a) Fill in the missing numbers in the inventory schedule using the first in, first out (FIFO) inventory valuation method for the month. 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. For transactions 4 and 5, always put the previously purchased items in the first row and put the newly purchased items in the second row. Inventory Schedule Transaction #1 #2 #3 #4 #5 Description Opening Balance Purchase from CDE Co. Sale to QRS Co. Sale to FGH Co. Purchase from LMN Co. Sale to VUW Co. Purchases Quantity 270 119 $ $ $ Amount $3,510.00 $1,904.00 Quantity Sales $ $ 40 $ $ $ 50 $ 52 $ Amount Quantity Balance 0 90 $ $ $ Amount $0 $1,170.00

1071690&page=23 a) Fill in the missing numbers in the inventory schedule using the first in, first out (FIFO) inventory valuation method for the month. 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. For transactions 4 and 5, always put the previously purchased items in the first row and put the newly purchased items in the second row. Inventory Schedule Transaction #1 #2 #3 #4 #5 Description Opening Balance Purchase from CDE Co. Sale to QRS Co. Sale to FGH Co. Purchase from LMN Co. Sale to VUW Co. Purchases Quantity 270 119 $ $ $ Amount $3,510.00 $1,904.00 Quantity Sales $ $ 40 $ $ $ 50 $ 52 $ Amount Quantity Balance 0 90 $ $ $ Amount $0 $1,170.00

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Fill in the missing numbers in the inventory schedule using the fifo inventory valuation method for the month .this company uses the perpetual inventory system
38cmid=1071690&page=23 a) Fill in the missing numbers in the inventory schedule using the first in, first out (FIFO) inventory valuation method for the month. 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. For transactions 4 and 5, always put the previously purchased items in the first row and put the newly purchased items in the second row. Inventory Schedule Transaction #1 #2 #3 #4 #5 Description Opening Balance Purchase from CDE Co. COGS = $ Sale to QRS Co. Sale to FGH Co. Purchase from LMN Co. Sale to VUW Co. Purchases Quantity c) What is the total value of ending inventory? Ending Inventory = $ 270 b) What is the total value of the COGS for the month? 119 $ $ $ $ $ H Amount $3,510.00 $1,904.00 OLC Quantity Sales $ $ 40 $ $ $ 50 $ 52 $ Amount C Quantity Balance 0 90 $ $ $ $ $ Amount $0 $1,170.00 A &
Transcribed Image Text:38cmid=1071690&page=23 a) Fill in the missing numbers in the inventory schedule using the first in, first out (FIFO) inventory valuation method for the month. 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. For transactions 4 and 5, always put the previously purchased items in the first row and put the newly purchased items in the second row. Inventory Schedule Transaction #1 #2 #3 #4 #5 Description Opening Balance Purchase from CDE Co. COGS = $ Sale to QRS Co. Sale to FGH Co. Purchase from LMN Co. Sale to VUW Co. Purchases Quantity c) What is the total value of ending inventory? Ending Inventory = $ 270 b) What is the total value of the COGS for the month? 119 $ $ $ $ $ H Amount $3,510.00 $1,904.00 OLC Quantity Sales $ $ 40 $ $ $ 50 $ 52 $ Amount C Quantity Balance 0 90 $ $ $ $ $ Amount $0 $1,170.00 A &
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