Take me to the texta) 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 boxes.Round all answers to 2 decimal places. When calculating the unit cost, round to 2 decimal places as well.Inventory Schedule PurchasesSalesBalanceTransactionDescriptionQuantityAmountQuantityAmountQuantityAmount Opening Balance 0$ 0#1Purchase from AAA Co.600$6,600.00Answer$AnswerAnswer$Answer#2Sale to SSS Co.Answer$AnswerAnswer$Answer300$3,300.00#3Sale to TTT Co.Answer$Answer150$AnswerAnswer$Answer#4Purchase from BBB Co.70$1,400.00Answer$AnswerAnswer$Answer#5Sale to UUU Co.Answer$Answer30$AnswerAnswer$Answer b) If the FIFO method had been used, what would the value of COGS been for the sale to UUU Co.?COGS = $Answer 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 = $Answer

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Description: Take me to the texta) 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 boxes.Round all

a) Calculation of missing figures using the weighted average cost method: Ending results are as…

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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a) 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 boxes.
Round all answers to 2 decimal places. When calculating the unit cost, round to 2 decimal places as well.

Inventory Schedule
	Purchases	Sales	Balance
Transaction	Description	Quantity	Amount	Quantity	Amount	Quantity	Amount
	Opening Balance					0	$ 0
#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 been for the sale to UUU Co.?

COGS = $Answer

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 = $Answer

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