6 Exercise 6-5A Calculate inventory amounts when costs are declining (L06-3) (The following information applies to the questions displayed below.) During the year, Trombley Incorporated has the following inventory transactions. Part 1 of 4 Date Transaction Jan. 1 Beginning inventory Mar. 4 Purchase Jun. 9 Purchase Nov. 11 Purchase Number of Units 14 19 24 24 81 Unit Cost $ 16 15 14 12 Total Cost $ 224 285 336 288 $1,133 1 points For the entire year, the company sells 62 units of inventory for $24 each. Print References Exercise 6-5A Part 1 Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. FIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Cost per Goods # of units unit Available for Sale Cost per # of units unit Cost of Goods Sold Cost # of units Ending per unit Inventory Beginning Inventory Purchases: Mar 04 Jun 09 Nov 11 Total Sales revenue Gross profit 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 Cost per Goods # of units unit Available for Sale # of units Cost per unit Cost of Goods Sold # of units Cost Ending per unit Inventory Beginning Inventory Purchases: Mar 04 Jun 09 Nov 11 Total Sales revenue Gross profit 3. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Average Co per unit" to 2 decimal places and all other answers to the nearest whole number.) Weighted Average Cost Cost of Goods Available for Sale Cost of Goods Sold - Weighted Ending Inventory - Weighted Average Average Cost Cost Average Cost of Goods # of units Average # of units Average Cost of # of units Cost per Available for Cost per Ending in Ending Goods Sold Sold Cost per Inventory unit Sale Unit Inventory unit 14 $ 224 Beginning Inventory Purchases: Mar.4 19 285 Jun.9 24 336 Nov. 11 24 288 1,133 Total 81 Sales revenue Gross profit