rini Company had the following transactions for the month. Number Cost of Units per Unit Total Beginning inventory 1,050 $22 $23,100 Purchased May 31 1,030 23 23,690 Purchased Jul. 15 1,340 26 34,840 Purchased Nov. 1 1,200 27 32,400 Totals (Goods available) 4,620 114,030 Ending inventory 950 Calculate the cost of goods sold dollar value for the period for each of the following cost allocation methods, using periodic inventory updating. Rou intermediate calculations to 2 decimal places and final answers to the nearest dollar amount. Cost of Goods Sold A. First-in, First-out (FIFO) B. Last-in, First-out (LIFO) C. Weighted Average (AVG)

rini Company had the following transactions for the month. Number Cost of Units per Unit Total Beginning inventory 1,050 $22 $23,100 Purchased May 31 1,030 23 23,690 Purchased Jul. 15 1,340 26 34,840 Purchased Nov. 1 1,200 27 32,400 Totals (Goods available) 4,620 114,030 Ending inventory 950 Calculate the cost of goods sold dollar value for the period for each of the following cost allocation methods, using periodic inventory updating. Rou intermediate calculations to 2 decimal places and final answers to the nearest dollar amount. Cost of Goods Sold A. First-in, First-out (FIFO) B. Last-in, First-out (LIFO) C. Weighted Average (AVG)

Name: Trini Company had the following transactions for the month.NumberCost
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Description: Trini Company had the following transactions for the month.NumberCostof Units per UnitTotalBeginning inventory1,050$22$23,100Purchased May 311,0302323,690Purchased Jul. 151,3402634,840Purchased Nov. 11,2002732,400Totals (Goods available)4,620114,030

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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