Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please help me , thanks a) fill in the missin

Please Help me , thanks a) Fill in the missing...

60.1K

Verified Solution

Question

Accounting

Please Help me , thanks

imageimageimage

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 Purchases Sales Balance Transaction Description Quantity Amount Quantity Amount Quantity Amount Opening 0 Balance $ Purchase from CDE Co 270 $3.510.00 #2 Sale to QRS co 90 $1,170.00 anything 0 hp Engage English (en) Inventory Schedule Purchases Sales Quantity Amount Quantity Balance Amount Quantity Amount Transaction Description Opening Balance ol $0 $ $ #1 Purchase from CDE Co. 270 $3,510.00 $ $ #2 Sale to QRS Co. 90 $1,170.00 $ $ $ #3 Sale to FGH Co. 40 $ Purchase from LMN $ $ #4 CO $ $ 119 $1,904.00 $ $ $ #5 Sale to VUW CO. 50 $ $ 5 ch for anything hp b) What is the total value of the COGS for the month? COGS = $ c) What is the total value of ending inventory? Ending Inventory = $

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students