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During the year, TRC Corporation has the following inventory transactions. Number of Unit Date Transaction Units Cost Total Cost Jan. 1 Beginning inventory 60
During the year, TRC Corporation has the following inventory transactions. Number of Unit Date Transaction Units Cost Total Cost Jan. 1 Beginning inventory 60 $ 52 $ 3,120 Apr. 7 Purchase 140 54 7,560 Jul.16 Purchase 210 57 11,970 Oct. 6 Purchase 120 58 6,960 530 $29,610 For the entire year, the company sells 450 units of inventory for $70 each. 3. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Average Cost per 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 Cost per unit Ending Inventory Beginning Inventory 60 $ 3,120 Purchases: Apr 07 140 7,560 Jul 16 210 11,970 Oct 06 120 6,960 Total 530 $ 29,610
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