6. Trini Company had the following transactions for the month. Number of Units Cost per Unit Beginning Inventory Purchased May 31 $4 $5 1000 1200 Purchased July 15 1300 $6 Purchased Nov. 1 1300 $7 Totals (goods available) Ending Inventory 4800 900 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)

6. Trini Company had the following transactions for the month. Number of Units Cost per Unit Beginning Inventory Purchased May 31 $4 $5 1000 1200 Purchased July 15 1300 $6 Purchased Nov. 1 1300 $7 Totals (goods available) Ending Inventory 4800 900 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)

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 2PA: Trini Company had the following transactions for the month. Calculate the ending inventory dollar...

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