Calculate the cost of goods sold dollar value for A66 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for last-in, first-out (LIFO). Numberof UnitsUnit CostSalesBeginning inventory860 $60 Purchased640 62 Sold400 $100 Sold350 110 Ending inventory750 LIFO (perpetual) Inventory Cost of Goods PurchasedCost of Goods SoldCost of Inventory Remaining Numberof unitsUnit CostTotal CostNumberof unitsUnit CostTotal CostNumberof unitsUnit CostTotal CostBeginning fill in the blank 1$fill in the blank 2$fill in the blank 3Purchasefill in the blank 4$fill in the blank 5$fill in the blank 6 fill in the blank 7fill in the blank 8fill in the blank 9 fill in the blank 10fill in the blank 11fill in the blank 12Sale fill in the blank 13$fill in the blank 14$fill in the blank 15fill in the blank 16fill in the blank 17fill in the blank 18 fill in the blank 19fill in the blank 20fill in the blank 21Sale fill in the blank 22fill in the blank 23fill in the blank 24fill in the blank 25fill in the blank 26fill in the blank 27 fill in the blank 28fill in the blank 29fill in the blank 30 Total Purchases$fill in the blank 31Total COGS$fill in the blank 32 te the cost of goods sold dollar value for A67 Company for the month, considering the following transactions under three different coston methods and using perpetual inventory updating. Provide calculations for weighted average (AVG). Round your intermediatetions to 2 decimal places and final answers to the nearest dollar amount.Numberof UnitsUnit CostSalesng inventory900$50sed60052400$100350110inventory750AVG (perpetual) InventoryCost of Goods PurchasedCost of Goods SoldCost of Inventory RemainingNumberNumberNumberof UnitsUnit CostTotal Costof UnitsUnit CostTotal Costof UnitsUnit CostTotal Costng9005045,000se60052 V31,200400350750Total Purchases31,200Total COGS

Last-in, first-out is the method of inventory valuation where the item that is purchased or…

Answered: Calculate the cost of goods sold dollar…

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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Calculate the cost of goods sold dollar value for A66 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for last-in, first-out (LIFO).

	Number of Units	Unit Cost	Sales
Beginning inventory	860	$60
Purchased	640	62
Sold	400		$100
Sold	350		110
Ending inventory	750

LIFO (perpetual) Inventory
	Cost of Goods Purchased	Cost of Goods Sold	Cost of Inventory Remaining
	Number of units	Unit Cost	Total Cost	Number of units	Unit Cost	Total Cost	Number of units	Unit Cost	Total Cost
Beginning							fill in the blank 1	$fill in the blank 2	$fill in the blank 3
Purchase	fill in the blank 4	$fill in the blank 5	$fill in the blank 6				fill in the blank 7	fill in the blank 8	fill in the blank 9
							fill in the blank 10	fill in the blank 11	fill in the blank 12
Sale				fill in the blank 13	$fill in the blank 14	$fill in the blank 15	fill in the blank 16	fill in the blank 17	fill in the blank 18
							fill in the blank 19	fill in the blank 20	fill in the blank 21
Sale				fill in the blank 22	fill in the blank 23	fill in the blank 24	fill in the blank 25	fill in the blank 26	fill in the blank 27
				fill in the blank 28	fill in the blank 29	fill in the blank 30
	Total Purchases	$fill in the blank 31	Total COGS	$fill in the blank 32

te the cost of goods sold dollar value for A67 Company for the month, considering the following transactions under three different cost
on methods and using perpetual inventory updating. Provide calculations for weighted average (AVG). Round your intermediate
tions to 2 decimal places and final answers to the nearest dollar amount.
Number
of Units
Unit Cost
Sales
ng inventory
900
$50
sed
600
52
400
$100
350
110
inventory
750
AVG (perpetual) Inventory
Cost of Goods Purchased
Cost of Goods Sold
Cost of Inventory Remaining
Number
Number
Number
of Units
Unit Cost
Total Cost
of Units
Unit Cost
Total Cost
of Units
Unit Cost
Total Cost
ng
900
50
45,000
se
600
52 V
31,200
400
350
750
Total Purchases
31,200
Total COGS

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