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.first-in, first-out (FIFO)last-in, first-out (LIFO)weighted average (AVG) Number of UnitsCost per UnitTotal1,0501,0201,3001,2004,570$ 23,10023,46033,80032,400112,760$2223Beginning inventoryPurchased May 31Purchased Jul. 15Purchased Nov. 1Totals (goods available)Ending inventory2627900?

Name: Trini Company had the following transactions for the month.Calculate t
Uploaded: 2024-03-20T06:32:37.000Z
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Description: 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.first-in, first-out (FIFO)last-in,

The inventory valuation method used to evaluate the closing inventory and cost of goods sold on the…

Answered: Number of Units Cost per Unit Total…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 17MCQ: ( Appendix 6B) Refer to the information for Morgan Inc. above. If Morgan uses a periodic inventory...

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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.

first-in, first-out (FIFO)
last-in, first-out (LIFO)
weighted average (AVG)

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

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