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19 ! Part 1 of 3 Required information Exercise 6-4A Calculate inventory amounts when costs are rising (L06-3) (The following information applies to the questions displayed below.] During the year, TRC Corporation has the following inventory transactions. 0.13 points Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul. 16 Purchase Oct. 6 Purchase Number of Units Unit Cost Total Cost 60 $ 52 $ 3,120 140 54 7,560 210 57 11,970 120 58 6,960 530 $29,610 eBook 001 Hint For the entire year, the company sells 450 units of inventory for $70 each. Print Exercise 6-4A Part 1 References 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 # of units Cost per # of units Cost per Cost of Goods Sold # of units unit Cost of Goods Available for Sale S 0 Cost Ending per unit Inventory unit S 0 s 0 Beginning Inventory Purchases: Apr. 7 0 S 0 0 Jul. 16 0 S 0 0 S 0 0 Oct. 6 Total 0 0 0 S Sales revenue Gross profit 20 ! Part 2 of 3 3 Required information Exercise 6-4A 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. 0.13 points Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul. 16 Purchase Oct. 6 Purchase Number of Units Unit Cost Total Cost 60 $ 52 $ 3,120 140 54 7,560 210 57 11,97 120 58 6,960 530 $ 29,610 eBook 101 Hint For the entire year, the company sells 450 units of inventory for $70 each. Print Exercise 6-4A Part 2 o References 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and oss profit LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Cost per Goods # of units unit Available for Sale Cost of # of units Cost per Goods # of units per unit Inventory Cost Ending unit Sold S 0 Beginning Inventory Purchases: Apr 07 Jul 16 0 0 Oct 06 0 Total 0 S 0 Sales revenue Gross profit 21 ! Required information Part 3 of 3 Exercise 6-4A Calculate inventory amounts when costs are rising (LO6-3) [The following information applies to the questions displayed below.] 0.13 points 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 Unit Cost Total Cost 60 $ 52 $ 3,120 140 54 7,560 210 57 11,970 120 58 6,960 530 $29,610 eBook 000 Hint For the entire year, the company sells 450 units of inventory for $70 each. Print Exercise 6-4A Part 3 References 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 Cost of Goods Sold - Weighted Average Cost Ending Inventory - Weighted Average Cost Weighted Average Cost Cost of Goods # of units # of units Average Cost per unit Available for Sold Average Cost of # of units Average Ending Cost per Unit Goods sold in Ending cost per unit Inventory Inventory Sale 60 S 3,120 140 Beginning Inventory Purchases: Apr 07 Jul 16 Oct 06 Total 7,560 11,970 210 120 6,960 29,610 530 S Sales revenue Gross profit Mc IGE
