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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 Number of
Required information
[The following information applies to the questions displayed below.]
During the year, TRC Corporation has the following inventory transactions.
Date | Transaction | Number of Units | Unit Cost | Total Cost | |||||||||
Jan. | 1 | Beginning inventory | 53 | $ | 45 | $ | 2,385 | ||||||
Apr. | 7 | Purchase | 133 | 47 | 6,251 | ||||||||
Jul. | 16 | Purchase | 203 | 50 | 10,150 | ||||||||
Oct. | 6 | Purchase | 113 | 51 | 5,763 | ||||||||
502 | $ | 24,549 | |||||||||||
For the entire year, the company sells 433 units of inventory for $63 each.
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.)
Sales Revenue?
Gross Profit?
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