PA2. 10.2 Trini Company had the following transactions for the month. Number of Units Cost per Unit Total Beginning inventory Purchased May 31 Purchased Jul. 15 Purchased Nov. 1 1,050 1,020 1,300 1,200 4,570 900 $ 23,100 23,460 33,800 32,400 112,760 $22 23 26 27 Totals (goods available) Ending inventory 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)

PA2. 10.2 Trini Company had the following transactions for the month. Number of Units Cost per Unit Total Beginning inventory Purchased May 31 Purchased Jul. 15 Purchased Nov. 1 1,050 1,020 1,300 1,200 4,570 900 $ 23,100 23,460 33,800 32,400 112,760 $22 23 26 27 Totals (goods available) Ending inventory 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)

Name: PA2. 10.2 Trini Company had the following transactions for the month.
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: PA2. 10.2 Trini Company had the following transactions for the month.Number of UnitsCost per UnitTotalBeginning inventoryPurchased May 31Purchased Jul. 15Purchased Nov. 1Totals (goods available)Ending inventory1,0501,0201,3001,2004,570$ 23,10023,460

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 17GI

See similar textbooks

Similar questions

Do the terms FIFO, LIFO, and weighted average refer to techniques used in determining quantities of the various classes of inventory on hand? Explain.
When inventory items are highly specialized, the best inventory costing method is ________. A. specific identification B. first-in, first-out C. last-in, first-out D. weighted average
Use the weighted-average (AVG) cost allocation method, with perpetual inventory updating, to calculate (a) sales revenue, (b) cost of goods sold, and c) gross margin for B75 Company, considering the following transactions.
What is Glasglow’s ending inventory under weighted average (rounded)
Which of the following inventory method measures most closely the current cost of inventory? a. FIFO b. LIFO c. Weighted average d. Specific identification
Under which method of inventory valuation, the average price is calculated considering the both the quantity and the price of good purchased a. Last In First Out (LIFO) b. Average price method c. First In First Out (FIFO) d. Weighted average method