COBOL COMPUTE decimal values from a file

Trying to understand compute. Would it be correct to calculate the sum of the earned credits using FSemesterTotal which is a PIC 99V99 like this? COMPUTE FSemesterTotal = Earned + Earned. I think there is supposed to be a counter in my loop to check if i read in the first earned value so i can add it to the second value coming in not sure how to accomplish this in COBOL.

Currently my input is like this,

CMPS161     ALGORITHM DSGN/IMPLMNT I        A    3.00
ENGL322     INTRO TO PROF/TECH WRITING      A    3.00
MATH241     ELEM STATISTICS                 B    3.00
ART 106     SURV WORLD ART HIST II          A    3.00
BIOL152     GENERAL BIOL LAB I              B    1.00
CMPS257     DISCRETE STRUCTURE              A    3.00
CMPS28O     ALGORITHM DSGN/IMPLEM II        B    3.00
CMPS290     COMPUTER ORGANIZATION           A    3.00
CMPS390     DATA STRUCTURES                 B    3.00
GBIO153     GENERAL BIOL II                 B    3.00
CMPS294     INTERNET PROGRAMMING            B    3.00
CMPS315     SYSTEM ADMINISTRATION           A    3.00
CMPS329     COMPUTER NETWORKING SECURITY    A    3.00
CMPS383     INFORMATION SYSTEMS             A    3.00
CMPS415     INTERGRATED TECH SYSTEMS        B    3.00

COBOL CODE

IDENTIFICATION DIVISION.
PROGRAM-ID.      P2.
ENVIRONMENT DIVISION.
INPUT-OUTPUT SECTION.
FILE-CONTROL.
    SELECT myInFile ASSIGN TO "P2In.dat".
    SELECT myOutFile ASSIGN TO "P2Out.dat".
DATA DIVISION.
FILE SECTION.
FD myInFile.
01 inRecord.
   02 Course   PIC X(13).
   02 Title    PIC X(32).
   02 Grade    PIC X(4).
   02 Earned   PIC 9V99.
   02 FILLER   PIC X(3).
FD myOutFile.
01 outRecord.
   02 myCourse  PIC X(13).
   02 myTitle   PIC X(32).
   02 myGrade   PIC X(4).
   02 myEarned  PIC 9.99.
   02 FILLER    PIC X(3).
WORKING-STORAGE SECTION.
01 E0F PIC X(3) VALUE "NO ".
01 NAME-HDR.
   05 FILLER    PIC X(10) VALUE "NAME HERE ".
01 SCHOOLID-HDR.
   05 FILLER    PIC X(8) VALUE "SCHOOLID"
01 COLUMN-HDR.
   05 CCourse  PIC X(6)  VALUE "COURSE".
   05 CSpace   PIC X(7)  VALUE  SPACES.
   05 HTitle   PIC X(5)  VALUE "TITLE".
   05 HSpace   PIC X(27) VALUE  SPACES.
   05 CGrade   PIC XX    VALUE "GR".
   05 CSpace   PIC XXX   VALUE SPACES.
   05 CEarned  PIC X(6)  VALUE "EARNED".
   05 QSpace   PIC X(4)  VALUE SPACES.
   05 Qpts     PIC X(4)  VALUE "Qpts".
01 FOOTER-SMS.
   05 FSemester      PIC X(28) VALUE "                    SEMESTER".
   05 FSpaces        PIC x(21) VALUE SPACES.
   05 FSemesterTotal PIC 99V99.
01 FOOTER-CUMUL.
   05 FCumulative    PIC X(30) VALUE"                    CUMULATIVE".
   05 FSpaces        PIC X(19) VALUE SPACES.
   05 FCumulTotal    PIC 99V99.
01 QPTS-VAL.
   05 QSpace    PIC X(5) VALUE SPACES.
   05 QPtsValue PIC 99V99.
01 GPA.
   05 GSpace    PIC XX VALUE SPACES.
   05 GpaScore  PIC 9.99.
PROCEDURE DIVISION.
MAIN-PROGRAM.
PERFORM HEADER.
PERFORM FILE-IO.
PERFORM CLOSING.
STOP RUN.
HEADER.
OPEN INPUT myInFile
     OUTPUT myOutFile.
WRITE outRecord FROM NAME-HDR.
WRITE outRecord FROM SCHOOLID-HDR
       AFTER ADVANCING 1 LINE.
WRITE outRecord FROM COLUMN-HDR
       AFTER ADVANCING 2 LINES.
MOVE SPACES TO outRecord.
WRITE outRecord
      AFTER ADVANCING 1 LINE.
FILE-IO.
   READ myInFile
      AT END
           MOVE "YES" TO EOF.
   DISPLAY NAME-HDR.
   DISPLAY SCHOOLID-HDR.
   DISPLAY SPACES.
   DISPLAY SPACES.
   DISPLAY "FALL 2014"
   DISPLAY COLUMN-HDR.
   PERFORM PROCESS-RECORD
   UNTIL EOF = "YES".
PROCESS-RECORD.
     MOVE Course to myCourse.
     MOVE Title to myTitle.
     MOVE Grade to myGrade.
     MOVE Earned to myEarned.
     WRITE outRecord
        AFTER ADVANCING 1 LINE.
     READ myInFile
        AT END
           MOVE "YES" TO EOF.
        NOT AT END
           IF myCourse = "ART 106      " THEN
              DISPLAY FOOTER-SMS, QPTS-VAL, GPA
              DISPLAY FOOTER-CUMUL, QPTS-VAL, GPA
              DISPLAY SPACES.
              DISPLAY "SPRING 2015"
           END-IF.
           IF myCourse = "CMPS285      " THEN
              DISPLAY FOOTER-SMS, QPTS-VAL, GPA
              DISPLAY FOOTER-CUMUL, QPTS-VAL, GPA
              DISPLAY SPACES.
              DISPLAY "FALL 2015"
           END-IF.
           IF myCourse = "CMPS294      " THEN
              DISPLAY FOOTER-SMS, QPTS-VAL, GPA
              DISPLAY FOOTER-CUMUL, QPTS-VAL, GPA
              DISPLAY SPACES.
              DISPLAY "SPRING 2016"
           END-IF.
 CLOSING.
     DISPLAY FOOTER-SMS, QPTS-VAL, GPA.
     DISPLAY FOOTER-CUMUL, QPTS-VAL, GPA.
     CLOSE myInFile
           myOutFile.

Solution

The question was: "Can I use COMPUTE this way?"

The answer is: Yes, but you likely want to add a ON SIZE ERROR to cater for a possible size overflow, just in case your input data has too many entries.

If the question behind the question is: "Will the program work?"

The answer is no: Despite the issues Brian already pointed out: you'll need a de-editing to change the data from 9.99 (4 bytes, not usable for arithmetic) to 9v99 (3 bytes, usable for arithmetic.

And if you don't use an ISAM file which is validated by the runtime: Always validate file input (the file may be broken and you likely don't want to abend or produce wrong results).