- Required Information The Following Information Applies To The Questions Displayed Below During The Year Trc Corpor 1 (82.04 KiB) Viewed 11 times
2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. LIFO Beginning Inventory Purchases: Apr 07 Jul 16 Oct 06 Total Sales revenue Gross profit Cost of Goods Available for Sale Cost of Goods Available for Sale $ # of units 0 Cost per unit GA $ 0 0 0 0 0 Cost of Goods Sold # of units Cost per unit Cost of Goods Sold Ending Inventory # of units Cost Ending per unit Inventory
! Required information [The following information applies to the questions displayed below.] During the year, TRC Corporation has the following inventory transactions. Transaction Date Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase Number of Units 55 135 205 115 510 Unit Cost $ 47 49 52 53 Total Cost $ 2,585 6,615 10,660 6,095 $25,955 For the entire year, the company sells 441 units of inventory for $65 each. 3. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Average Cost per unit" to 4 decimal places and all other answers to the nearest whole number.)
3. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Average Cost per unit" to 4 decimal places and all other answers to the nearest whole number.) Weighted Average Beginning Inventory Purchases: Apr 07 Jul 16 Oct 06 Cost Total Cost of Goods Available for Sale # of units 55 135 205 115 510 Cost per unit Cost of Goods Available for Sale $ 2,585 6,615 10,660 6,095 25,955 Cost of Goods Sold - Weighted Average Cost # of units Sold Cost per Unit Cost of Goods Sold Ending Inventory - Weighted Average Cost # of units in Ending Inventory Cost per unit Ending Inventory
Sales revenue Gross profit