Akira Company had the following transactions for the month. Number of Units Cost per Unit Beginning Inventory 160 $10 Purchased Mar. 31 160 14 Purchased Oct. 15 130 17 Ending Inventory 70 ? Calculate the ending inventory 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. Ending Inventory 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
Akira Company had the following transactions for the month. Number of Units Cost per Unit Beginning Inventory 160 $10 Purchased Mar. 31 160 14 Purchased Oct. 15 130 17 Ending Inventory 70 ? Calculate the ending inventory 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. Ending Inventory 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
Chapter10: Inventory
Section: Chapter Questions
Problem 5EA: Akira Company had the following transactions for the month. Calculate the ending inventory dollar...
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Akira Company had the following transactions for the month.
| Number of Units |
Cost per Unit |
|
| Beginning Inventory | 160 | $10 |
| Purchased Mar. 31 | 160 | 14 |
| Purchased Oct. 15 | 130 | 17 |
| Ending Inventory | 70 | ? |
Calculate the ending inventory 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.
| Ending Inventory | |
| 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 |
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