Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Trini Company had the following transactions for the month. Number of Units Cost per Unit Total Beginning inventory 1,070 $22 $23,540 Purchased May 31 1,020
Trini Company had the following transactions for the month. Number of Units Cost per Unit Total Beginning inventory 1,070 $22 $23,540 Purchased May 31 1,020 23 23,460 34,840 Purchased Jul. 15 1,340 26 Purchased Nov. 1 1,200 27 32,400 Totals (goods available) 4,630 114,240 Ending inventory 940 ? 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)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started