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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. Date Transaction Jan. 1
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 29 34 39 39 141 Unit Cost $ 31 3e 29 27 Total Cost $ 899 1,020 1,131 1,053 $4,103 For the entire year, the company sells 110 units of inventory for $39 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 Goods unit Available for Sale $ 0 Cost per # of units Cost per unit Cost of Goods Sold # of units Cost Ending per unit Inventory $ 0 $ 0 0 Beginning Inventory Purchases: Mar 04 Jun 09 Nov 11 Total $ 0 0 OO 0 $ + 0 $ 0 0 0 s 0 S
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