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Exercise 6-4 Calculate inventory amounts when costs are rising (LO6-3) [The following information applies to the questions displayed below.] During the year, TRC Corporation has

Exercise 6-4 Calculate inventory amounts when costs are rising (LO6-3)

[The following information applies to the questions displayed below.]

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

Date Transaction Number of Units Unit Cost Total Cost
Jan. 1 Beginning inventory 50 $ 42 $ 2,100
Apr. 7 Purchase 130 44 5,720
Jul. 16 Purchase 200 47 9,400
Oct. 6 Purchase 110 48 5,280

490 $ 22,500

For the entire year, the company sells 440 units of inventory for $60 each.

Exercise 6-4 Part 3

3. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Weighted-Average Cost per unit" to 2 decimal places)

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