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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
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.)
Required Information [The following information applies to the questions displayed below. During the year, TRC Corporation has the following inventory transactions. Unit Cost $ 52 Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase 54 Number of Units 60 140 210 120 530 57 58 Total Cost $ 3,120 7,560 11,970 6,960 $29,610 For the entire year, the company sells 450 units of Inventory for $70 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 # of units Average Cost of Goods Available for Cost per unit Sale # of units Sold Average Cost of Cost per Unit Goods Sold # of units Average Ending in Ending cost per unit Inventory Inventory 60 $ 3,120 Beginning Inventory Purchases: Apr 07 140 Jul 16 210 7,560 11,970 6,960 29,610 Oct 06 120 Total 530 $ Sales revenue Gross profitStep by Step Solution
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