During the year, TRC Corporation has the following inventory transactions.

Date	Transaction	Number of Units	Unit Cost	Total Cost
January 1	Beginning inventory	41	$33	$1,353
April 7	Purchase	121	35	4,235
July 16	Purchase	191	38	7,258
October 6	Purchase	101	39	3,939
		454		$16,785

For the entire year, the company sells 410 units of inventory for $51 each.

Required: 1-a & b. Using FIFO, calculate ending inventory and cost of goods sold. 1-c & d. Using FIFO, calculate sales revenue and gross profit. 2-a & b. Using LIFO, calculate ending inventory and cost of goods sold. 2-c & d. Using LIFO, calculate sales revenue and gross profit. 3-a & b. Using weighted-average cost, calculate ending inventory and cost of goods sold. 3-c & d. Using weighted-average cost, calculate sales revenue and gross profit. 4. Determine which method will result in higher profitability when inventory costs are rising.

Using weighted-average cost, calculate ending inventory and cost of goods sold. (Round "Average Cost per unit" to 4 decimal places and all other answers to 2 decimal places.)

Weighted Average Cost	Cost of Goods Available for Sale			Cost of Goods Sold - Weighted Average Cost			Ending Inventory - Weighted Average Cost
	Number of units	Average Cost per Unit	Cost of Goods Available for Sale	Number of units	Average Cost per Unit	Cost of Goods Sold	Number of units	Average Cost per Unit	Ending Inventory
Beginning Inventory	41		$1,353
Purchases:
April 07	121		4,235
July 16	191		7,258
October 06	101		3,939
Total	454	$36.9714selected answer correct	$16,785	410selected answer correct	$36.9714selected answer correct	$17,603.00selected answer incorrect	44selected answer correct	$36.9714selected answer correct	$1,889.00selected answer incorrect

• Req 2c and d

i got wrong with cost of goods sold and ending inventory

Using weighted-average cost, calculate sales revenue and gross profit. (Round answers to 2 decimal places.)

Sales revenue	$20,910.00selected answer correct
Gross profit	$3,307.00selected answer incorrectand gross profit

Complete this question by entering your answers in the tabs below. Using FIFO, calculate ending inventory and cost of goods sold. (x) Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Using FIFO, calculate sales revenue and gross profit. Using LIFO, calculate ending inventory and cost of goods sold. Req 1a and b Req 1c and d Req 2a and b Req 2c and d Req 3a and b Req 3c and d Req 4 Using weighted-average cost, calculate ending inventory and cost of goods sold. (Round "Average Cost per unit" to 4 decimal places and all other answers to 2 decimal ph \& Req 20 and d Req Jo and d (8) Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Using weighted-average cost, calculate sales revenue and gross profit. (Round answers to 2 decimal places.) x Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Using LIFO, calculate sales revenue and gross profit