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During the year, Trombley Incorporated has the following inventory transactions. Date: Jan. 1 Transaction Number of Units Unit Cost Total Cost Beginning inventory 26 $
During the year, Trombley Incorporated has the following inventory transactions. Date: Jan. 1 Transaction Number of Units Unit Cost Total Cost Beginning inventory 26 $ 28 $ 728 Mar. 4 Purchase 31 27 837 Jun. 9 Purchase 36 26 936 Nov.11 Purchase 36 24 864 129 $3,365 For the entire year, the company sells 99 units of inventory for $36 each. Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. Required information: Ending Inventory 4 FIFO Cost of Goods Available for Sale Cost of Goods Sold Cost of Cost of # of units Cost per unit Goods # of units Available Cost per unit Goods # of units Sold for Sale Beginning Inventory Purchases: $ 0 $ 0 $ Mar 04 Jun 09 Nov 11 Total Sales revenue Gross profit 0 $ 0 0 0 $ 0 0 0 $ 0 0 $ 0 Cost Ending per unit Inventory
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