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Required information (The following information applies to the questions displayed below.) During the year, Trombley Incorporated has the following inventory transactions. Number of Units Date
Required information (The following information applies to the questions displayed below.) During the year, Trombley Incorporated has the following inventory transactions. Number of Units Date Transaction Jan. 1 Beginning inventory Mar. 4 Purchase Jun. 9 Purchase Nov.11 Purchase Unit Cost $ 14 13 12 Total Cost $ 168 221 264 17 10 220 $ 873 For the entire year, the company sells 60 units of inventory for $22 each. Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. FIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of # of units Cost per Goods unit Available for Sale $ # of units Cost per unit Cost of Goods Sold Cost Ending #of units per unit Inventory $ 0 $ Beginning Inventory Purchases: Mar 04 Jun 09 Nov 11 Total $ 0 $ 00 0 $ 0 0 $ 0 | Sales revenue Gross profit Required information [The following information applies to the questions displayed below.) During the year, Trombley Incorporated has the following inventory transactions. Date Transaction Jan. 1 Beginning inventory Mar. 4 Purchase Jun. 9 Purchase Nov.11 Purchase Number of Units 12 17 22 Unit Cost $ 14 13 12 Total Cost $ 168 221 264 220 $ 873 For the entire year, the company sells 60 units of inventory for $22 each. 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per unit of units Cost of Goods Available for Sale $ vite Cost per Cost of 'T Goods Sold te # of units unit Cost Ending per unit Inventory Beginning Inventory Purchases: Mar 04 Jun 09 Nov 110 Total 0 $ 0 Sales revenue Gross profit Required information The following information applies to the questions displayed below.) During the year, Trombley Incorporated has the following inventory transactions. Number of Units Unit Cost $ 14 Date Transaction Jan. 1 Beginning inventory Mar. 4 Purchase Jun. 9 Purchase Nov.11 Purchase 22 Total Cost $ 168 221 264 220 $ 873 WWN For the entire year, the company sells 60 units of inventory for $22 each. 3. Using weighted average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Average Cost per unit" to 2 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 Cost of Goods # of units Average Cost of # of units Average cost of Goods # of # of units Cost per Available for | Sold unit Sale Cost per din Ending Goods Sold " Inventory Average Cost per unit Ending Inventory Unit R 12 168 Beginning Inventory Purchases: Mar.4 Jun.9 221 264 220 873 Nov. 11 Total 22 73 $ Sales revenue Gross profit
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