Trini Company had the following transactions for the month. Number of Units A. First-in, First-out (FIFO) B. Last-in, First-out (LIFO) C. Weighted Average (AVG) Cost per Unit $22 23 26 27 Beginning inventory 1,080 Purchased May 31 1,020 Purchased Jul. 15 1,300 Purchased Nov. 1 1,200 Totals (goods available) 4,600 Ending inventory 910 Calculate the ending inventory dollar value for each of the following cost allocation metho using periodic inventory updating. Round your intermediate calculations to 2 decim places and final answers to the nearest dollar amount. Ending Inventory $ Total $23,760 23,460 33,800 32,400 113,420 ?

Trini Company had the following transactions for the month. Number of Units A. First-in, First-out (FIFO) B. Last-in, First-out (LIFO) C. Weighted Average (AVG) Cost per Unit $22 23 26 27 Beginning inventory 1,080 Purchased May 31 1,020 Purchased Jul. 15 1,300 Purchased Nov. 1 1,200 Totals (goods available) 4,600 Ending inventory 910 Calculate the ending inventory dollar value for each of the following cost allocation metho using periodic inventory updating. Round your intermediate calculations to 2 decim places and final answers to the nearest dollar amount. Ending Inventory $ Total $23,760 23,460 33,800 32,400 113,420 ?

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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Question

Please help with the attached screenshot. I have tried using an excel spreadsheet examples to resolve but to no avail.

Trini Company had the following transactions for the month.
Number
of Units
1,080
Beginning inventory
Purchased May 31
Purchased Jul. 15
Purchased Nov. 1
Totals (goods available)
Ending inventory
A. First-in, First-out (FIFO)
B. Last-in, First-out (LIFO)
C. Weighted Average (AVG)
$
Cost
per Unit
69
$22
1,020
1,300
1,200
4,600
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
23
26
Total
$23,760
23,460
33,800
32,400
113,420
27

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