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During the year, TRC Corporation has the following inventory transactions. Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning inventory 55 $
During the year, TRC Corporation has the following inventory transactions. Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning inventory 55 $ 47 $ 2,585 Apr. 7 Purchase 135 49 6,615 Jul. 16 Purchase 205 52 10,660 Oct. 6 Purchase 115 53 6,095 510 $ 25,955 For the entire year, the company sells 441 units of inventory for $65 each. Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit.
Please include Costs of goods sold and Ending inventory tables with number of units.
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