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The FIFO question is right but I can not figure out the LIFO and Weighted average cost. any help greatly apreciated Exercise 6-4 (Algo) Calculate
The FIFO question is right but I can not figure out the LIFO and Weighted average cost. any help greatly apreciated
Exercise 6-4 (Algo) Calculate inventory amounts when costs are rising (LO6-3) During the year, TRC Corporation has the following inventory transactions. For the entire year, the company sells 442 units of inventory for $66 each. Required: 1-a & b. Using FIFO, calculate ending inventory and cost of goods sold. 1.c \& d. Using FIFO, calculate sales revenue and gross profit. 2-a \& b. Using LIFO, calculate ending inventory and cost of goods sold. 2c \& d. Using LiFO, calculate sales revenue and gross profit. 3-a \& b. Using weighted-average cost, calculate ending inventory and cost of goods sold. 3c&d. Using weighted-average cost, calculate sales revenue and gross profit. 4. Determine which method will result in higher profitability when inventory costs are rising. Complete this question by entering your answers in the tabs below. Using Aeg la and b Required: 1-a \& b. Using FIFO, calculate ending inventory and cost of goods sold. 1-c \& d. Using FIFO, calculate sales revenue and gross profit. 2-a \& b. Using LIFO, calculate ending inventory and cost of goods sold. 2-c \& d. Using LIFO, calculate sales revenue and gross profit. 3-a \& b. Using weighted-average cost, calculate ending inventory and cost of goods sold, 3-c \& d. Using weighted-average cost, calculate sales revenue and gross profit. 4. Determine which method will result in higher profitability when inventory costs are rising. Complete this question by entering your answers in the tabs below. Using FIFO, calculate ending inventory and cost of goods sold. For the entire year, the company sells 442 units of inventory for $66 each. Required: 1-a \& b. Using FIFO, calculate ending inventory and cost of goods sold. 1-c \& d. Using FIFO, calculate sales revenue and gross profit. 2-a \& b. Using LIFO, calculate ending inventory and cost of goods sold. 2-c \& d. Using LIFO, calculate sales revenue and gross profit. 3-a \& b. Using weighted-average cost, calculate ending inventory and cost of goods sold. 3-c \& d. Using weighted-average cost, calculate sales revenue and gross proflt. 4. Determine which method will result in higher profitability when inventory costs are rising. 8 Answer is not complete. Complete this question by entering your answers in the tabs below. Using FIFO, calculate sales revenue and gross profit. Required: 1-a \& b. Using FIFO, calculate ending inventory and cost of goods sold. 1-c \& d. Using FIFO, calculate sales revenue and gross profit. 2-a \& b. Using LIFO, calculate ending inventory and cost of goods sold. 2c&d. Using LIFO, calculate sales revenue and gross profit. 3-a \& b. Using weighted-average cost, calculate ending inventory and cost of goods sold. 3-c \& d. Using welghted-average cost, calculate sales revenue and gross profit. 4. Determine which method will result in higher profitability when inventory costs are rising. Complete this question by entering your answers in the tabs below. Using LIFO, calculate ending inventory and cost of goods sold. Required: 1-a \& b. Using FIFO, calculate ending inventory and cost of goods sold. 1c \& d. Using FIFO, calculate sales revenue and gross profit. 2-a \& b. Using LIFO, calculate ending inventory and cost of goods sold. 2c \& d. Using LIFO, calculate sales revenue and gross profit 3.a \& b. Using weighted-average cost, calculate ending inventory and cost of goods sold. 3-c \& d. Using weighted-average cost, calculate sales revenue and gross profit. 4. Determine which method will result in higher profitability when inventory costs are rising. Complete this question by entering your answers in the tabs below Step by Step Solution
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