Fill in the missing numbers in the inventory schedule using the first in ,fill out (fifo) inventory valuation method for the month .this company uses the perpetual inventory system xatrios student gateway-Sea x trios GatewayDr Theory Exam - Intermediate XXTheory ExamXdi(1) AChttps://www.ameengage.com/mod/quiz/attempt.php?attempt=3958111&cmid=1071690&page=23a) Fill in the missing numbers in the inventory schedule using the first in, first out (FIFO) inventory valuation method for the month. This company usesthe 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 SchedulePurchasesSalesBalanceQuantityAmountQuantityTransaction DescriptionOpening Balance:0# 1Purchase from CDE Co.#2Sale to QRS Co.#3Sale to FGH Co.#4Purchase from LMN Co.#5Sale to VUW Co.ISb) What is the total value of the COGS for the month?COGS = $ffee quiz - Search270119$$49Amount$3,510.00$1,904.00QuantityOOLS$$40 $$S50 $52 SF790$$$S$Amount$0$1,170.00

Under the FIFO method of inventory valuation, goods purchased first are sold out first.

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FINANCIAL ACCOUNTING

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ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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