X Dr Theory Exam - Intermediate X way pt-3958111&cmid=1071690&page=23 Theory Exam
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter8: Inventories: Special Valuation Issues
Section: Chapter Questions
Problem 13E: Retail Inventory Method The following information relates to the retail inventory method used by...
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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 Gateway
Dr Theory Exam - Intermediate X
X
Theory Exam
X
di
(1) AC
https://www.ameengage.com/mod/quiz/attempt.php?attempt=3958111&cmid=1071690&page=23
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
Quantity
Amount
Quantity
Transaction Description
Opening Balance:
0
# 1
Purchase from CDE Co.
#2
Sale to QRS Co.
#3
Sale to FGH Co.
#4
Purchase from LMN Co.
#5
Sale to VUW Co.
IS
b) What is the total value of the COGS for the month?
COGS = $
ffee quiz - Search
270
119
$
$
49
Amount
$3,510.00
$1,904.00
Quantity
O
OLS
$
$
40 $
$
S
50 $
52 S
F
7
90
$
$
$
S
$
Amount
$0
$1,170.00](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcc000041-d60d-4810-b05d-5222cc0d7ae3%2Fbd84f01b-ce61-4b4f-a5eb-5efd7d8bda22%2Fdpyurem_processed.jpeg&w=3840&q=75)
Transcribed Image Text:xatrios student gateway-Sea x trios Gateway
Dr Theory Exam - Intermediate X
X
Theory Exam
X
di
(1) AC
https://www.ameengage.com/mod/quiz/attempt.php?attempt=3958111&cmid=1071690&page=23
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
Quantity
Amount
Quantity
Transaction Description
Opening Balance:
0
# 1
Purchase from CDE Co.
#2
Sale to QRS Co.
#3
Sale to FGH Co.
#4
Purchase from LMN Co.
#5
Sale to VUW Co.
IS
b) What is the total value of the COGS for the month?
COGS = $
ffee quiz - Search
270
119
$
$
49
Amount
$3,510.00
$1,904.00
Quantity
O
OLS
$
$
40 $
$
S
50 $
52 S
F
7
90
$
$
$
S
$
Amount
$0
$1,170.00
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