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Required information [The following information applies to the questions displayed below.) During the year, TRC Corporation has the following inventory transactions Date Transaction Jan. 1
Required information [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 $ 41 129 199 46 Total Cost $ 2,009 5,547 9,154 5,123 $21,833 109 47 486 For the entire year, the company sells 428 units of inventory for $59 each. 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. Cost of Goods Sold Ending Inventory # of units Cost per Cost of Goods Sold its # of units per unit Inventory Cost Ending unit LIFO Cost of Goods Available for Sale Cost of Cost per Goods # of units unit Available for Sale Beginning Inventory | 495 41 2.009 Purchases: Apr 07 129 $ 435,547 Jul 16 199S 46 9,154 Oct 06 109 S 471 5,123 Total $ 21,833 199 $ 46 9,154 428 Sales revenue 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.) Ending Inventory - Weighted Average Cost Weighted Average Cost Cost of Goods Available for Sale Cost of Goods Sold - Weighted Average Cost Cost of Goods Cost per # of units Available for us # of units Cost of Cost per Unit unit | Sale Sold Goods Sold # of units in Ending Inventory Cost per unit Ending Inventory S 2,009 Beginning Inventory Purchases: Apr 07 Jul 16 Oct 06 Total 199 109 5,547 9,154 5,123 21,833 21,833 4867 $ T L Sales revenue Gross profit
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