I just need the last part answered.
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 25 30 35 35 Unit Cost $ 27 26 25 23 Total Cost $ 675 780 875 805 125 $3,135 For the entire year, the company sells 98 units of inventory for $35 each. 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 Cost of units Cost per Cost of Goods Available for Sale #of units Cost per unit Cost of Goods Sold #of units unit Ending per unit Inventory 25 $ 27 $ 675 25 $ 27 $ 675 0 Beginning Inventory Purchases Mar 04 30 $ 780 30 $ 26 780 0 Jun 09 35 $ 875 35 $ 875 0 Nov 11 35 $ 875 8 $ 200 27 S 25 675 Total 125 $ 3,205 98 $ 2,514 27 Sales revenue $ 3,430 Gross profit $ 916 Required information (The following information applies to the questions displayed below.) During the year, Trombley Incorporated has the following inventory transactions. Unit Cost Date Transaction Jan. 1 Beginning inventory Mar. 4 Purchase Jun. 9 Purchase Nov. 11 Purchase Number of Units 25 30 35 35 $ 27 26 25 23 Total Cost $ 675 780 875 805 125 $3,135 For the entire year, the company sells 98 units of inventory for $35 each. 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory of units Cost per unit Cost of Goods Available for Sale # of units Cost per unit Cost of Goods Sold #of units Cost Ending per unit Inventory Beginning Inventory 25 $ 27 $ 675 0 25$ 27 $ 675 Purchases: Mar 04 30 $ 26 780 26 728 2 $ 26 52 Jun 09 25 875 25 875 0 35 $ 35 $ $ 350 $ 35 $ 98 Nov 11 23 805 23 805 0 Total 125 $ 3,135 $ 2,408 27 $ 727 Sales revenue $ 3,430 1,022 Gross profit $ Required information (The following information applies to the questions displayed below.) During the year, Trombley Incorporated has the following inventory transactions. Unit Cost Date Transaction Jan. 1 Beginning inventory Mar. 4 Purchase Jun. 9 Purchase Nov. 11 Purchase Number of Units 25 30 35 35 $ 27 26 25 23 Total Cost $ 675 780 875 805 125 $3,135 For the entire year, the company sells 98 units of inventory for $35 each. 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 Sold - Weighted Average Cost Ending Inventory - Weighted Average Cost of Goods Available for Sale Cost Weighted Average Cost Cost of # of units Average Cost of Goods Cost Available for # of units Sold per unit Sale Average Cost per # of units Goods Sold In Ending Average Cost per unit Ending Inventory Unit Inventory Beginning Inventory 25 $ 675 Purchases: Mar.4 30 780 Jun.9 35 875 Nov. 11 35 805 Total 125 $ 3,135 98 $ 25.08 $ 2.458 27 $ 25.08 $ 677 Sales revenue $ 3.430 Gross profit $ 972 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 25 30 35 35 Unit Cost $ 27 26 25 23 Total Cost $ 675 780 875 805 125 $3,135 For the entire year, the company sells 98 units of inventory for $35 each. 4. Which method will result in higher profitability when inventory costs are declining? Multiple Choice O Weighted average LIFO O FIFO
