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 Unit Cost $ 32 Number of Units 40 120 190 100 450 34 37 3e 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. Check my 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 Average Ending foventory Weighted Average Cont Cost Weighted Average Cost Cost per of units Sold # of units Cost per Unit Cost of Goods Sold # of units in Ending Inventory Ending Inventory Cost per unit Cost of Goods Available for Sale 1 280 unit 40 Beginning Inventory Purchases: Apr 07 Jul 16 Oct 06 Total 120 190 100 450 4,080 7.030 3,800 16.190 5 Sales revenue Gross profit O Required information {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 24 29 Unit Cost $ 26 25 24 22 34 Total Cost $ 624 725 816 748 $2,913 34 121 For the entire year, the company sells 90 units of inventory for $34 each. Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. FIFO Ending Inventory Cost of Goods Available for Sale Cost of Goods Sold Cost of # of units Cost per Goods Cost of # of units unit Available Goods unit for Sale Sold $ ol $ 0 $ 0 Cost per # of units Cost Ending per unit Inventory Beginning Inventory Purchases: Mar 04 Jun 09 Nov 11 Total 0 S 0 0 0 $ 0 0 0 $ 0 0 0 Sales revenue Gross profit 2 Using LIFO, calculate ending inventory, cost of goods sold, sales revenue and gross profit. LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Cost # of units per Goods unit Available for Sale # of units Cost per Cost of Goods Sold unit #of units Cost Ending per unit Inventory Beginning Inventory Purchases Mar 04 Jun 09 Nov 11 Total Sales revenue Gross profit Chi 3. Using weighted average cost, calculate ending inventory, cost of goods sold, sales revenue and gross profit. (Round "Average Cost per unit" to 2 decimal places and all other answers to the nearest whole number.) Cost of Goods Available for Sale Weighted Average Cost Cost of Goods Sold Weighted Average Cost of units Average Cost of Sold Goods Sold Unit Ending Inventory Weighted Average Cost # of units Average Ending Cost per in Ending Inventory Inventory unit Average Cont of Goods of units Cost per Available for unit Sale Cost per 24 5 624 Beginning Inventory Purchases Mar 4 Jun 9 Nov 11 Total 29 34 34 121 725 816 748 2.913 on Sales revenue Gross profit
