Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
During the year, TRC Corporation has the following inventory transactions. Date Transaction Number of Units Unit Cost Total cost Jan. 1 Beginning inventory 41 $33
During the year, TRC Corporation has the following inventory transactions. Date Transaction Number of Units Unit Cost Total cost Jan. 1 Beginning inventory 41 $33 $ 1,353 Apr. 7 Purchase 121 35 4,235 Jul. 16 Purchase 191 38 7,258 Oct. 6 Purchase 101 39 3,939 Total 454 16,785 For the entire year, the company sells 410 units of inventory for $51 each. Sold units: 410x cost 51=20,910 1. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Weighted-Average Cost per unit" to 4 decimal places)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started