A- 10.5 Use the following information relating to Shana Company to calculate the inventory turnover...
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A- 10.5 Use the following information relating to Shana Company to calculate the inventory turnover ratio and the number of days sales in inventory ratio.
| year | sales | cost of sales | average inventory |
| 2021 | 22000 | 16500 | 2400 |
| 2022 | 28000 | 21000 | 3000 |
| 2023 | 33000 | 24750 | 3500 |
| 2024 | 35000 | 26250 | 4000 |
b.PA3. 10.2 Trini Company had the following transactions for the month.
| N0. of Unit | cost per unit | total | |
| beginning inventory | 1050 | 22$ | 23100 |
| purchased May 31 | 1020 | 23 | 23460 |
| purchased Jul15 | 1300 | 26 | 33800 |
| purchased Nov1 | 1200 | 27 | 32400 |
| Total (goods available for sale) | 4570 | 112760 | |
| Ending Inventory | 900 | ? |
Calculate the cost of goods sold dollar value for the period 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)
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