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question 1: 
Question 2:
During the year, TRC Corporation has the following inventory transactions. For the entire year, the company sells 441 units of inventory for $65 each. Required: 1-a \& b. Using FIFO, calculate ending inventory and cost of goods sold. 1-c \& d. Using FIFO, calculate sales revenue and gross profit. 2-a \& b. Using LIFO, calculate ending inventory and cost of goods sold. 2-c \& d. Using LIFO, calculate sales revenue and gross profit. 3-a \& b. Using weighted-average cost, calculate ending inventory and cost of goods sold. 3-c \& d. Using weighted-average cost, calculate sales revenue and gross profit. 4. Determine which method will result in higher profitability when inventory costs are rising. Answer is not complete. Complete this question by entering your answers in the tabs below. Answer is not complete. Complete this question by entering your answers in the tabs below. Using FIFO, calculate ending inventory and cost of goods sold. Answer is not complete. Complete this question by entering your answers in the tabs below. Using LIFO, calculate sales revenue and gross profit. Req 1a and b Req 1c and d Req 2a and b Req 2c and d Req 3a and b Req 3c and d4 Answer is not complete. Complete this question by entering your answers in the tabs below. Using weighted-average cost, calculate sales revenue and gross profit. (Round answers to 2 decimal places.) At the beginning of June, Circuit Country has a balance in inventory of $2,650. The following transactions occur during the month of June. June 2 Purchase radios on account from Radio World for $2,350, terms 2/15,n/45. June 4 Pay cash for freight charges related to the June 2 purchase from Radio World, $330. June 8 Return defective radios to Radio World and receive credit, $300. June 10 Pay Radio World in full. June 11 Sell radios to customers on account, $4,300, that had a cost of $2,850. June 18 Receive payment on account from customers, $3,300. June 20 Purchase radios on account from Sound Untimited for $3,450, terms 2/10,n/30. June 23 Sell radios to customers for cash, $4,950, that had a cost of $3,250. June 26 Return damaged radios to Sound Unlimited and receive credit of $400. June 28 Pay Sound Unlimited in full. Required: 1. Assuming that Circuit Country uses a perpetual inventory system, record the transactions. 2. Prepare the top section of the multiple-step income statement through gross profit for the month of June. Answer is not complete. Complete this question by entering your answers in the tabs below. Assuming that Circuit Country uses a perpetual inventory system, record the transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Required: 1. Assuming that Circuit Country uses a perpetual inventory system, record the transactions. 2. Prepare the top section of the multiple-step income statement through gross profit for the month of June Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare the top section of the multiple-step income statement through gross profit for the month of June
