Trini Company had the following transactions for the month. Numberof UnitsCostper UnitTotalBeginning inventory1,080 $22 $23,760 Purchased May 311,030 23 23,690 Purchased Jul. 151,320 26 34,320 Purchased Nov. 11,200 27 32,400 Totals (Goods available)4,630 114,170 Ending inventory910 ? Calculate the cost of goods sold dollar value for the period for each of the following cost allocation methods, using periodic inventory updating. Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount. Cost of Goods SoldA. First-in, First-out (FIFO)$fill in the blank 1B. Last-in, First-out (LIFO)$fill in the blank 2C. Weighted Average (AVG)$fill in the blank 3 Trini Company had the following transactions for the month.NumberCostof Units per UnitTotalBeginning inventory1,080$22$23,760Purchased May 311,0302323,690Purchased Jul. 151,3202634,320Purchased Nov. 11,2002732,400Totals (Goods available)4,630114,170Ending inventory910?Calculate the cost of goods sold dollar value for the period for each of the followingcost allocation methods, using periodic inventory updating. Round yourintermediate calculations to 2 decimal places and final answers to thenearest dollar amount.Cost of Goods SoldA. First-in, First-out (FIFO)B. Last-in, First-out (LIFO)$4C. Weighted Average (AVG)%24

Name: Trini Company had the following transactions for the month. Numberof U
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Description: Trini Company had the following transactions for the month. Numberof UnitsCostper UnitTotalBeginning inventory1,080 $22 $23,760 Purchased May 311,030 23 23,690 Purchased Jul. 151,320 26 34,320 Purchased Nov. 11,200 27

Inventory: Inventory is a physical item of trade sold by suppliers during their accounting period.…

Answered: Trini Company had the following…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 3PA: Trini Company had the following transactions for the month. Calculate the cost of goods sold dollar...

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Trini Company had the following transactions for the month.

	Number of Units	Cost per Unit	Total
Beginning inventory	1,080	$22	$23,760
Purchased May 31	1,030	23	23,690
Purchased Jul. 15	1,320	26	34,320
Purchased Nov. 1	1,200	27	32,400
Totals (Goods available)	4,630		114,170
Ending inventory	910	?

Calculate the cost of goods sold dollar value for the period 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.

	Cost of Goods Sold
A. First-in, First-out (FIFO)	$fill in the blank 1
B. Last-in, First-out (LIFO)	$fill in the blank 2
C. Weighted Average (AVG)	$fill in the blank 3

Trini Company had the following transactions for the month.
Number
Cost
of Units per Unit
Total
Beginning inventory
1,080
$22
$23,760
Purchased May 31
1,030
23
23,690
Purchased Jul. 15
1,320
26
34,320
Purchased Nov. 1
1,200
27
32,400
Totals (Goods available)
4,630
114,170
Ending inventory
910
?
Calculate the cost of goods sold dollar value for the period 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.
Cost of Goods Sold
A. First-in, First-out (FIFO)
B. Last-in, First-out (LIFO)
$4
C. Weighted Average (AVG)
%24

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