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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
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. Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase Number of Units Unit Cost 48 $ 40 128 42 198 45 108 46 482 Total Cost $ 1,920 5,376 8,910 4,968 $21, 174 For the entire year, the company sells 427 units of inventory for $58 each. Exercise 6-4A Part 3 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 # of units Available for Sold Sale Cost per Unit Cost of Goods Sold # of units in Ending Inventory Cost per unit Ending Inventory 48 $ 1.920 128 Beginning Inventory Purchases Apr 07 Jul 16 Oct 06 Total 198 5,376 8,910 4.968 21,174 108 482 $ Sales revenue Gross profit
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