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During the year, Trombley Incorporated has the following inventory transactions. Date Transaction Jan. 1 Beginning inventory Mar. 4 Purchase Jun. 9 Purchase Nov. 11 Purchase

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During the year, Trombley Incorporated has the following inventory transactions. Date Transaction Jan. 1 Beginning inventory Mar. 4 Purchase Jun. 9 Purchase Nov. 11 Purchase Number of Units 27 32 37 37 133 Unit Cost $ 29 28 27 25 Total Cost $ 783 896 999 925 $3,603 For the entire year, the company sells 100 units of inventory for $37 each. Exercise 6-5A Part 2 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. Cost of Goods Sold Ending Inventory # of units Cost per unit Cost of Goods Sold # of units Cost Ending per unit Inventory LIFO Cost of Goods Available for Sale Cost of Cost per # of units Goods unit Available for Sale Beginning Inventory 27 $ 29 $ 783 Purchases: Mar 04 32 s 28 896 Jun 09 37 $ 27 999 Nov 11 37 $ 25 925 Total 133 S 3,603

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