2. Trini Company had the following transactions for the month.Number of UnitsCost per UnitTotal1,0501,0201,3001,2004,570900$ 23,10023,46033,80032,400112,760$22Beginning inventoryPurchased May 31Purchased Jul. 15Purchased Nov. 1Totals (goods available)Ending inventory232627Calculate the ending inventory dollar value for each of the following cost allocation methods,using periodic inventory updating. ProvideA. first-in, first-out (FIFO)B. last-in, first-out (LIFO)C. weighted average (AVG)yourcalculations.

Name: 2. Trini Company had the following transactions for the month.Number
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Description: 2. Trini Company had the following transactions for the month.Number of UnitsCost per UnitTotal1,0501,0201,3001,2004,570900$ 23,10023,46033,80032,400112,760$22Beginning inventoryPurchased May 31Purchased Jul. 15Purchased Nov. 1Totals (goods availabl

Cost allocation:- Cost allocation is the process of identifying and allocating the total production…

Business

Accounting

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

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

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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