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complete all parts of the question! thanks! 9 9 6.53 points Skipped During the year, TRC Corporation has the following inventory transactions, Number of Unit
complete all parts of the question! thanks!
9 9 6.53 points Skipped During the year, TRC Corporation has the following inventory transactions, Number of Unit Total Date Transaction Units Cost Cost January 1 Beginning inventory 52 $44 $2,288 April 7 Purchase 132 46 6,072 July 16 Purchase 202 49 9,898 October 6 Purchase 112 50 5,600 498 $23,858 For the entire year, the company sells 432 units of inventory for $62 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 eBook References Complete this question by entering your answers in the tabs below. Reg 4 Reg 1a and b Regic and a Reg 2a and b Reg 2 and a Reg 3a and b Req 3c and d Using FIFO, calculate ending inventory and cost of goods sold Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory FIFO Number Cost per of units unit Cost of Goods Available for Sale $ 2288 Number Cost per of units unit Cost of Goods Sold Number of units Cost Ending per unit Inventory 52 $ 44 $ 445 0 Beginning Inventory Purchases Aort 07 1325 40 6.0721 5 40 Skipped Reg la and b Regic and d Reg za and b Req 2c and d Req 3a and b Req 3c and d Reg 4 eBook Ending Inventory Number Cost Ending of units per unit Inventory References Using FIFO, calculate ending inventory and cost of goods sold. Cost of Goods Available for Sale Cost of Goods Sold Cost of FIFO Cost of Number Cost per Goods Number Cost per of units unit Available of units Goods unit Sold for Sale Beginning Inventory 52 $ 4415 2,288 $ 44 $ 0 Purchases April 07 132 $ 46 6,072 $ 46 0 July 16 202 $ 49 $ 49 0 October 05 112 $ 50 5,600 $ 50 0 Tots 498 $ 23 858 9.898 Regle and d > Req la and b Reg ic and Reg 2a and b Reg 2c and a Req 3a and b Req 3c and d Reg 4 Using FIFO, calculate sales revenue and gross profit Sales revenue Gross profit ed Req la and b Req ic and Reg 2a and beq 2c and d Req 3a and b Req 3c and d Reg 4 Using LIFO, calculate ending inventory and cost of goods sold. Cost of Goods Available for Sale Cost of Goods Sold ook LIFO Ending Inventory Number Cost per of units unit Cost of Goods Sold Cost of Number Cost per Goods of units unit Available for Sale 52 $ 44 $ 2,288 Number of units Cost Ending per unit Inventory rences Beginning Inventory Purchases April 07 July 16 October 06 Total 132 $ 202 $ 1125 498 46 49 50 6,072 9,898 5,000 $ 23,858 Complete this question by entering your es Reg 4 Reg 1a and b Req ic and a Reg za and blReq 2c and a Reg 3a and b Reg 3c and d Using LIFO, calculate sales revenue and gross profit. Sales revenue Gross profit Reg 4 Reg 1a and Regic and d Reg 2a and D Reg 2c and a Req 3a and Reg 3c and d upood Using weighted average cost, calculate ending inventory and cost of goods sold. (Round "Average Cost per unit to 4 decimal places and all other answers to 2 decim Cost of Goods Available for Sale Cost of Goods Sold - Weighted Average Cost Ending Inventory Weighted Average cost . Weighted Average cost Number of units Ending Inventory Average Cost Cost of Goods Number Average Cost per per Unit Available for of units Unit Sale Cost of Goods Sold Number of Average Cost per units Unit references 12 $ 2.288 Beginning inventory Purchase April 07 18 October Toll 132 302 112 400 6,072 9,00 1.600 23.050 Reg 4 Reg 1a and b Reg 1c and d Req 2a and b Req 2c and d Reg 3a and bReq 3c and d Using weighted average cost, calculate sales revenue and gross profit. (Round answers to 2 decimal places.) Sales revenue Gross profit Step by Step Solution
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