Trini Company had the following transactions for the month. Calculate the ending inventory dollar value for each

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Trini Company had the following transactions for the month.

Calculate the ending inventory dollar value for each of the following cost allocation methods, using periodic inventory updating. Provide your calculations.
A. First-in, first-out (FIFO)
B. Last-in, first-out (LIFO)
C. Weighted average (AVG)

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Principles Of Accounting Volume 1 Financial Accounting

ISBN: 9781593995942

1st Edition

Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax

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Question Posted: Aug 15, 2022 02:27 AM

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Trini Company had the following transactions for the month. Calculate the ending inventory dollar value for each

Question:

Beginning inventory Purchased May 31 Purchased Jul. 15 Purchased Nov. 1 Totals (goods available) Ending inventory Number of Units 1,050 1,020 1,300 1,200 4,570 900 Cost per Unit $22 23 26 27 ? Total $ 23,100 23,460 33,800 32,400 112,760

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A Firstin FirstOut FIFO Beginning Inventory 300 Purchases 450 S...View the full answer

Principles Of Accounting Volume 1 Financial Accounting

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