Akira Company had the following transactions for the month. Numberof UnitsCostper UnitBeginning Inventory150 $10 Purchased Mar. 31170 15 Purchased Oct. 15150 18 Ending Inventory50 ? Calculate the ending inventory dollar value for the period for each of the following cost allocation methods, using periodic inventory updating. Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount. Ending InventoryA. First-in, First-out (FIFO)$fill in the blank 1B. Last-in, First-out (LIFO)$fill in the blank 2C. Weighted Average (AVG)$fill in the blank 3 Akira Company had the following transactions for the month.NumberCostof Unitsper UnitBeginning Inventory150$10Purchased Mar. 3117015Purchased Oct. 1515018Ending Inventory50?Calculate the ending inventory dollar value for the period for each of the followingcost allocation methods, using periodic inventory updating. Round yourintermediate calculations to 2 decimal places and final answers to thenearest dollar amount.Ending InventoryA. First-in, First-out (FIFO)$B. Last-in, First-out (LIFO)C. Weighted Average (AVG)

First-in, First Out (FIFO) Under the First in first out (FIFO) method of inventory valuation, Cost…

Answered: Akira Company had the following…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

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	150	$10
Purchased Mar. 31	170	15
Purchased Oct. 15	150	18
Ending Inventory	50	?

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
Cost
of Units
per Unit
Beginning Inventory
150
$10
Purchased Mar. 31
170
15
Purchased Oct. 15
150
18
Ending Inventory
50
?
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)
$
B. Last-in, First-out (LIFO)
C. Weighted Average (AVG)

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