Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

help please ! Required information [The following information applies to the questions displayed below.) During the year, TRC Corporation has the following inventory transactions Date

help please
image text in transcribed
image text in transcribed
image text in transcribed
! Required information [The following information applies to the questions displayed below.) During the year, TRC Corporation has the following inventory transactions Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase Number of Units 40 120 190 100 450 Unit ed $ 32 34 39 38 Total Cost $1,280 4,080 7,030 3,800 $16, 190 For the entire year, the company sells 400 units of inventory for $50 each. CA Required information 3. Using weighted-average cost, calculate ending inventory.cost of goods sold, sales revenue, and gross profit. (Round "Average Cost per unit" to 4 decimal places and all other answers to the nearest whole number.) Cost of Goods Available for Sale Cost of Goods Sold - Weighted Avetage Cost Ending Inventory Weighted Average Cost Weighted Average Cost Cost per of units unit Cost of Goods Available for Sale # of units Sold Cost per Unit Cost of Goods Sold of units in Ending Inventory Cost per unit Ending Inventory 40 5 Beginning Inventory Purchases 1,280 Apr 07 Jul 16 Oct 06 Total 120 190 100 4,080 7.030 3.800 16.190 450 $ Prev 5 6 of 29 ! Next > Sales revenue Gross profit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting Volume 2

Authors: Kin Lo, George Fisher

4th Edition

0135220491, 9780135220498

More Books

Students also viewed these Accounting questions

Question

Define cash equivalents.

Answered: 1 week ago