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During the year, Trombley Incorporated has the following inventory transactions.

Date	Transaction	Number of Units	Unit Cost	Total Cost
Jan. 1	Beginning inventory	22	$ 24	$ 528
Mar. 4	Purchase	27	23	621
Jun. 9	Purchase	32	22	704
Nov. 11	Purchase	32	20	640
		113		$ 2,493

For the entire year, the company sells 88 units of inventory for $32 each.

rev: 10_20_2014_QC_56979, 06_09_2015_QC_CS-17317

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Section BreakExercise 6-5 Calculate inventory amounts when costs are declining (LO6-3)

17.

value: 0.75 points

Required information

Exercise 6-5 Part 1

Required:

1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit.

rev: 08_16_2016_QC_CS-57416

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18.

value: 0.75 points

Required information

Exercise 6-5 Part 2

2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit.

rev: 08_18_2016_QC_CS-57416

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19.

value: 0.75 points

Required information

Exercise 6-5 Part 3

3. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Weighted-Average Cost per unit" to 2 decimal places.)

rev: 10_18_2016_QC_CS-66184

rev: 08_16_2016_QC_CS-57416