Question: answer full question a) Fat in the missing numbers in the inventory schedule using the first in, first out (FIFO) inventory valuation method for the
a) Fat 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 out the previously purchased items in the first row and put the newly burchased items in the second Inventory Schedule Purchases Sales Balance Transaction Description Quantity Quantity Amount Quantity Amount Opening Balance $0 Purchase from CDE Co. $2,860.00 $ Amount #1 260 1 2 #3 #2 $ $ 100 $1,100.00 Sate to ORS CO Sale to FGH CO. 3 $ 36 $ $ #4 Purchase from LMNCO S $ $ 116 $1,624.00 $ #5 Sato to VUW CO $ 64 $ $ 41$ $ b) What is the total value of the COGS for the month? COGS $ c) What is the total value of ending inventory
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
