Akira Company had the following transactions for the month. Number Cost of Units per Unit Beginning Inventory 160 $10 Purchased Mar. 31 180 15 Purchased Oct. 15 130 18 Ending Inventory 60 Calculate the ending inventory dollar value for the period for each of the following cost allocation methods, using periodic inventory updating. Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount. Ending Inventory 24 A. First-in, First-out (FIFO) 6,640 B. Last-in, First-out (LIFO) $ C. Weighted Average (AVG) Feedback Check My Work FIFO and LIFO refer to the inventory 'layers' that are used to complete the order for a sale. The amount remaining after the order is 'filled' is the ending inventory amounts.

Akira Company had the following transactions for the month. Number Cost of Units per Unit Beginning Inventory 160 $10 Purchased Mar. 31 180 15 Purchased Oct. 15 130 18 Ending Inventory 60 Calculate the ending inventory dollar value for the period for each of the following cost allocation methods, using periodic inventory updating. Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount. Ending Inventory 24 A. First-in, First-out (FIFO) 6,640 B. Last-in, First-out (LIFO) $ C. Weighted Average (AVG) Feedback Check My Work FIFO and LIFO refer to the inventory 'layers' that are used to complete the order for a sale. The amount remaining after the order is 'filled' is the ending inventory amounts.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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