- Required Information The Following Information Applies To The Questions Displayed Below During The Year Trc Corporat 1 (35.34 KiB) Viewed 10 times
- Required Information The Following Information Applies To The Questions Displayed Below During The Year Trc Corporat 2 (37.28 KiB) Viewed 10 times
Required information [The following information applies to the questions displayed below.] During the year, TRC Corporation has the following inventory transactions. Unit Number of Units. Cost 48 $40 128 42 198 45 108 46 482 Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase For the entire year, the
company sells 427 units of inventory for $58 each. FIFO Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. Beginning Inventory Purchases: Cost of Goods Available for Sale # of units Cost per unit 48 $40 Total Cost $ 1,920 5,376 8,910 4,968 $21,174 Cost of Goods Available for Sale $ 1,920 Answer is complete but not entirely correct. Cost of Goods Sold Cost per unit 58$ 40 # of units Cost of Goods Sold $ 2,320 **** # of units 0 Ending Inventory Cost per unit Ending Inventory
Required information. Beginning Inventory Purchases: Apr. 7 Jul.16 Oct.6 Total # of units Sales revenue Gross profit 48 Cost of Goods Available for Sale $ 40 $ 1,920 Cost per unit 128 $ 42 198 $ 45 108 $ 46 482 $ 28,536 $ 21,574 5,376 8,910 4,968 $ 21,174 Answer is complete but not entirely correct. Answer is complete out not entireiv correct # of units 58 $ 40 33 Cost per unit 128 198 108 492 x $ 42 $ 45 $ 46 Cost of Goods Sold $ 2,320 5,376 8,910 4,968 $21,574 # of units 0 0 Cost per unit 0 61 $ 46 (10) $ Ending Inventory 2,806 2,806 x