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I need help plz! calculations of how your got the ones I got wrong would be amazing! Thanks :) During the year, TRC Corporation has
I need help plz! calculations of how your got the ones I got wrong would be amazing! Thanks :)
During the year, TRC Corporation has the following inventory transactions. Unit Cost $ 33 Date Jan. 1 Apr. 7 Jul.16 Oct. 6 Number of Units 41 121 191 101 Transaction Beginning inventory Purchase Purchase Purchase 35 38 39 Total Cost $ 1,353 4,235 7,258 3,939 $16,785 454 For the entire year, the company sells 410 units of inventory for $51 each. Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. & Answer is complete but not entirely correct. FIFO Cost of Goods Sala Ending Inventory Cost of Goods Available for Sale Cost of # of Cost Goods per units Available for Sale # of units Cost pen unit Cost of Goods Sold # of units Cost per unit Ending Inventory unit 41 $ 33 $ 1,353 41 $ 33 $ 1,353 0 Beginning Inventory Purchases: Apr. 7 Jul. 16 35 4,235 0 121 $ 191$ Os 38 7,258 1210 $ 35 191 O $38 51 X $ 39 410 4,235 7,258 1,989 $ 14,835 0 50 @ 50 39 1950 Oct. 6 101 $ 3,939 16,785 39 1,950 X X $ 454 Total Answer is complete but not entirely correct. $ 20,910 M Sales revenue Gross profit 1$ 6.075 23 Nextil Saved heck my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indi 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. Answer is complete but not entirely correct. LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost Cost of # of Goods per units unit Available for Sale # of units Cost per unit Cost of Goods Sold # of units Cost per unit Ending Inventory 41$ 33 $ 1,353 41 X $ 33 $ 1,353 41 $ 33 $ 1,353 Beginning Inventory Purchases: Apr 07 Jul 16 121 $ 35 175 121 $ 35 191 $ 38 191$ 38 4,235 7,258 3,939 16,785 4,235 7 258 3,939 Oct 06 101$ 5 %$ 35 ol OM 46 39 101 $ 39 Total 454 454 $ 16,785 X 1$ 1,528 Answer is complete but not entirely correct. Sales revenue $ 20,910 $ 4 125 Gross profit 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 Cost Ending Inventory - Weighted Average Cost Weighted Average Cost # of units Cost per unit Cost of Goods Available for # of units Sale Sold Cost per Unit Cost of Goods Sold # of units in Ending Inventory Cost per unit Ending Inventory 41 $ 1,353 Beginning Inventory Purchases: Apr 07 4.235 121 191 Jul 16 Oct 06 101 7,258 3,939 16,785 Total 454/ $ 36.9714 $ 410 36.9714 $ 15,158 $ 36.97141 $ Sales revenue Gross profit 20,910 5,752 $Step by Step Solution
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