Question
During 2015, TRC Corporation has the following inventory transactions. Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning inventory 50 $ 42
During 2015, TRC Corporation has the following inventory transactions. |
Date | Transaction | Number of Units | Unit Cost | Total Cost | |
Jan. 1 | Beginning inventory | 50 | $ 42 | $ | 2,100 |
Apr. 7 | Purchase | 130 | 44 | 5,720 | |
Jul. 16 | Purchase | 200 | 47 | 9,400 | |
Oct. 6 | Purchase | 110 | 48 | 5,280 | |
490 | $ | 22,500 | |||
For the entire year, the company sells 440 units of inventory for $60 each. 3.
Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Weighted-Average Cost" to 2 decimal places, intermediate and final answers to the nearest dollar amount.)
(WHAT I NEED) Cost of Goods Available for sale Total:_____
Cost of Goods Sold Weighted Average cost # of units sold_______ Ave Cost per unit $ _______ Cost of Goods Sold________
Ending Inventory Weighted Average Cost # units in Ending Inventory_______ Average Cost per unit________ Ending Inventory $_________
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