Trini 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 1,040 23 23,920 Purchased Jul. 15 1,340 26 34,840 Purchased Nov. 1 1,210 27 32,670 Totals (goods available) 4,640 114,530 Ending inventory 910 Calculate the ending inventory dollar value 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 A. First-in, First-out (FIFO) B. Last-in, First-out (LIFO) $4 C. Weighted Average (AVG)
Trini 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 1,040 23 23,920 Purchased Jul. 15 1,340 26 34,840 Purchased Nov. 1 1,210 27 32,670 Totals (goods available) 4,640 114,530 Ending inventory 910 Calculate the ending inventory dollar value 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 A. First-in, First-out (FIFO) B. Last-in, First-out (LIFO) $4 C. Weighted Average (AVG)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Trìni 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
1,040
23
23,920
Purchased Jul. 15
1,340
26
34,840
Purchased Nov. 1
1,210
27
32,670
Totals (goods available)
4,640
114,530
Ending inventory
910
Calculate the ending inventory dollar value 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
A. First-in, First-out (FIFO)
B. Last-in, First-out (LIFO)
C. Weighted Average (AVG)
%24
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