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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 60 $ 52 140 54 210 57 120 58 530 Total Cost $ 3,120 7,560 11,970 6,960 $29,610 For the entire year, the company sells 450 units of inventory for $70 each 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and grc
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