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 Unit Cost $ 29 28 27 25 Total Cost $ 783 896 999 925 $3,603 133 For the entire year, the company sells 100 units of inventory for $37 each. Exercise 6-5A Part 1 FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per unit # of units Cost of Goods Available for Sale 29 $ 783 Cost per unit Cost of Goods Sold # of units Cost Ending per unit Inventory $ 27 $ o 0 $ 29 $ 0 27 $ 29 $ Beginning Inventory Purchases 783 Mar 04 28 21 $ 28 56 30 $ 37 $ 840 999 Jun 09 32 $ 37 $ 377 $ 133 27 25 896 999 925 3,603 28 27 25 olo Nov 11 $ 0 Total $ Sales revenue Grncs mit S Nov Required information Exercise 6-5A Calculate Inventory amounts when costs are declining (L06-3) The following information applies to the questions displayed below.) 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 1 Exercise 6-5A Part 1 Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue and gross profit FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Goods Cost of #of units #of units Goods Cost Ending # of units Available unit Sold for Sale per unit Inventory 27 s 29 $ 783 0 $ 29 $ 0 27 $ 20 $ 783 Cost per Cost per unit 28 56 Beginning Inventory Purchases: Mar 04 Jun 09 Nov 11 Total 32 $ 37 28 27 25 30 $ 37 $ $ 896 999 925 3,603 28 27 25 840 999 2 $ o 0 37 $ 133 $ Sales revenue Gross profit