Hello,

How do you determine the number of units for cost of goods sold and ending inventory?

Thanks,

Q

\begin{tabular}{|c|} \hline Part 2 of 4 \\ \hline eBook \\ \hline Hint \\ \hline Ask \\ \hline Print \\ \hline References \\ \hline \end{tabular} During the year, TRC Corporation has the following inventory transactions. \begin{tabular}{llcrr} & \multicolumn{1}{c}{ Number of } & Unit \\ Date & \multicolumn{1}{c}{ Transaction } & Units & Cost & Total Cost \\ Jan. 1 & Beginning inventory & 60 & $52 & $3,120 \\ Apr.7 & Purchase & 140 & 54 & 7,560 \\ Jul.16 & Purchase & 210 & 57 & 11,970 \\ Oct. 6 & Purchase & 120 & 58 & 6,960 \\ & & 530 & & $29,610 \end{tabular} For the entire year, the company sells 450 units of inventory for $70 each. 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit