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how do we get last # of units for cost of goods sold? oct 6 During the year, TRC Corporation has the following inventory transactions
how do we get last # of units for cost of goods sold? oct 6
During the year, TRC Corporation has the following inventory transactions Date Jan 1 Apr. 7 Jul 16 Oct 6 Transaction Beginning inventory Purchase Purchase Purchase Number of Units 54 134 204 114 Unit Cast $ 46 48 51 52 Total Cost $ 2.484 6,432 10,404 5,928 506 $ 25.248 For the entire year, the company sells 440 units of inventory for $64 each 3. value: 10.00 points 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 Average Ending Average # of units Cost per unit Cost of Goods Sold #of units Cost of Average Goods #of units Cost per Available unit for Sale $ 2.484 54 $ 46 Cost per unit Inventory 54 $ 46 $ 2,484 48 Beginning Inventory Purchases: Apr. 7 Jul 16 Oct 6 Total 134 $ 204 $ 114 $ 506 51 52 6,432 10,404 5,928 $ 25,248 134 $ 48 204 $ 51 $ 52 6,432 10.404 0 yedi, e party seis 44 Inventory for b4 each 3. value 10.00 points 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 Average # of units Cost per unit Average #of units Cost per Cost of Goods Available for Sale $ 2,484 Cost of Goods Sold # of units Average Cost Ending Inventory unit per unit Beginning Inventory Purchases: 54 $ 46 54 $ 46 $ 2,484 Apr. 7 48 134 204 48 51 52 $ $ 134 $ 204 s 114 $ 506 Jul. 16 Oct 6 Total 6,432 10,404 5,928 $ 25,248 6,432 10,404 51 52 $ 0 Sales revenue Gross profit Step by Step Solution
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