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During the year. TRC Corporation has the following inventory transactions, Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul. 16 Purchase Oct. 6 Purchase

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During the year. TRC Corporation has the following inventory transactions, Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul. 16 Purchase Oct. 6 Purchase Number of Units 59 139 209 119 526 Unit Cost $ 52 53 56 57 Total Cost $ 3,009 17,367 11,704 6,783 $28,863 For the entire year, the company sells 445 units of inventory for $69 each. [HINTS: In this problem, you are asked to compute COGS and ending inventory using FIFO, LIFO and average cost using tables with 3 major columns: goods available for sale, COGS, and ending inventory. For FIFO/LIFO, enter the # of units in beginning/ending inventory and the cost per unit will automatically carry into the COGS column For average cost, round the average cost per unit to 4 decimal places After each table, you'll be asked to compute Gross Profit.) Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit FIFO Cost of Goods Available for Salo Cost of Goods Sold Ending Inventory Cost per Cost per of units of units Cost of Goods Sold of units Cost of Goods Available for Sale $ 0 unit unit Cost Ending per unit Inventory $ 0 $ 0 Beginning Inventory Purchases: Apr. 7 Jul. 16 0 a 0 $ $ 0 0 0 $ 0 0 Oct.6 Total 0 0 0 $ Sales revenue Gross profit

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