Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

During the year, TRC Corporation has the following inventory transactions. Number of Unit Date Transaction Units Cost Total Cost Jan. 1 Beginning inventory 57 $

image text in transcribed
During the year, TRC Corporation has the following inventory transactions. Number of Unit Date Transaction Units Cost Total Cost Jan. 1 Beginning inventory 57 $ 49 $ 2,793 Apr. 7 Purchase 137 51 6,987 Jul.16 Purchase 207 54 11,178 Oct. 6 Purchase 117 55 6,435 518 $27,393 For the entire year, the company sells 443 units of inventory for $67 each. 3. Using weighted average cost, calculate ending inventory, cost of goods sold, sales revenue and gross profit (Round "Average Cost ser unit" to 4 decimal places and all other answers to the nearest whole number.) Weighted Average Cost Cost of Goods Available for Sale Cont of Goods Sold Weighted Average Ending Inventory - Weighted Average Cost Cost Cost per Cost of Goods # of units of units # of units Cost of Available unit Cost per Unit Sold in Ending Goods Sold Cost per unit Sale Inventory Inventory 57 $ 2,793 Ending 137 Beginning Inventory Purchases Apr 07 10 Oct 0 Total 207 117 518 6.987 11,178 6.435 27.393 $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

find all matrices A (a) A = 13 (b) A + A = 213

Answered: 1 week ago

Question

5. Understand how cultural values influence conflict behavior.

Answered: 1 week ago