3 Required information The following information applies to the questions displayed below) During the year, TRC Corporation has the following inventory transactions Part of 4 Number of Units 49 129 Date transaction Jan. 1 Dginning inventory Apr. 7 Purchase Jul.20 Purchase Oct. 6 Purchase 3.03 Unit cost total cost $41 $ 2,009 43 3.547 9,154 521,3) 109 486 For the entire year, the company belts 428 units of inventory for $69 each Required: 1. Using FIFO, calculate ending inventory, cost of goods sold sales revenue and gross profit FIFO Cost of Goods Avatable for sale Cost of Good Bold Endingsventory Com of Goods Cost of Cost per w of units Available Cost Ending of units Bold per unit inventory for Sale Beginning inventory Purchases Adr Jul 16 Oto of white cost per Goods J Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. Part 1 of 4 FIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Goods unit Available for Sale 3.03 points of units Cost per # of units Cost per Cost of Goods Sold of units unit Cost Ending per unit Inventory Hing Beginning Inventory Purchases: Apr. 7 Jul. 10 Oct 6 Total Sales revenue Gross profit 4 Required information [The following information applies to the questions displayed below.) During the year, TRC Corporation has the following inventory transactions. Part 2 of 4 Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase 3.03 points Number of Units 49 129 199 109 486 Unit Cost $ 41 43 Total cost $ 2,009 5,542 9,154 5,123 $21,833 Hint For the entire year, the company sells 428 units of inventory for $59 each. 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Goods unit Available for Sale of units Cost per of units Cost per Cost of Goods Sold of units unit Cost Ending per unit Inventory Beginning Inventory Purchases Apr 07 Jul 16 Oct 06 Total 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Goods unit Available for Sale $ Cost per # of units Cost per # of units Cost of Goods Sold # of units unit Cost Ending per unit Inventory 0 0 Beginning Inventory Purchases: Apr 07 Jul 16 Oct 06 Total 0 Olo $ Sales revenue Gross profit 5 Part 3 of 4 Required information The following information apples to the questions displayed below) During the year, TRC Corporation has the following inventory transactions. Number of Unit Date Transaction Unito Cost Total Cost Jan. 1 Beginning inventory 49 $41 $ 2,009 Apr. 7 Purchase 129 5,547 Jul.16 Purchase Oct. 6 Purchase 109 47 5,122 $21,833 3.03 points ,154 For the entire year, the company sells 428 units of inventory for $59 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.) Cost of Goods Sold-Weighted Average Cost Ending Inventory Weighted Average cout Weighted Average Cost Cost of Goods Available for Sale Cost of Goods unit Available for Sale of unite Cost per of units Sold Cont per Unit Cost of Goods Sold # of units in Ending Inventory Ending Cost per unit Inventory 49 $ 2.000 Beginning inventory Purchases Apr 07 Jul 16 Oct 06 129 199 5,547 9,154 5,123 109 PURE VIE ZONDE HIRI HILL Required information 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.) Cost of Goods Available for Sale Cost of Goods Sold-Weighted Average Cost Ending Inventory - Wolghted Average Cout Weighted Average Cost Cost per Cost of Goods # of units of units # of units Available for Cost of unit Ending Cost per Unit Sold in Ending Sale Goods Sold Cost per unit Inventory Inventory 49 $ 2.009 Beginning Inventory Purchases: Apr 07 Jul Oct 06 Total 120 199 109 486 5,547 9,154 5.123 21833 Sales revenue Gross prota ! Required information [The following information applies to the questions displayed below.) During the year, TRC Corporation has the following inventory transactions. Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase Number of Units 49 129 199 109 486 Unit Cost $ 41 43 46 Total Cost $ 2,009 5,547 9,154 5,123 $21,833 For the entire year, the company sells 428 units of inventory for $59 each. 4. Determine which method will result in higher profitability when inventory costs are rising. Multiple Choice LIFO 4. Determine which method will result in higher profitability when inventory costs are rising. Multiple Choice LIFO FIFO Weighted average