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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 58
During the year, TRC Corporation has the following inventory transactions. Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning inventory 58 $ 50 $ 2,900 Apr. 7 Purchase 138 52 7,176 Jul.16 Purchase 208 55 11,440 Oct. 6 Purchase 118 56 6.608 522 $28,124 For the entire year, the company sells 444 units of inventory for $68 each. 1. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Average Cost er unit" to 4 decimal places and all other answers to the nearest whole number.) Cost of Goods Available for Sale Cost of Goods Sold-Weighted Average Cost Ending Inventory-Weighted Average Cost Weighted Average Cost #of units Cost per unit Cost of Goods Available for Sale of units Sold Cost per Unit Cost of Goods Sold # of units in Ending Inventory Ending Cost per unit Inventory Beginning Inventory 58 $ 2,000 Purchases Apr 07 138 7.176 Jul 16 208 11,440 Oct 06 118 6,608 Total 522 $ 28,124
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