Writing Today A ALEKS - Jessica Sch. DeVry University work Required Information [The following information applies to the questions displayed below) During the year. TRC Corporation has the following Inventory transactions. Date Transaction Number of Units Unit Cost Total Cost Jan. 1 beginning inventory ce $52 $ 3,120 Ape. 7 Purchase 7.560 Jul.16 Purchase 11.970 Oct. 6 Purchase 120 58 6,96 530 $29.610 54 140 210 For the entire year, the company sells 450 units of inventory for $70 each Required: 1. Using FIFO. calculate ending Inventory.cost of goods solo, sales revenue and gross profit FIFO Cost al Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Goods of units unit Available for Sale Cost per of units Cost per unit Cost of Goods Sold of units Cost Ending per unit Inventory Beginning inventory Purchases Apr 7 Jul 16 Oct 6 Total Sales revenue Gross profit Prey Required Information [The following information applies to the questions displayed below) During the year, TRC Corporation has the following inventory transactions. Date Transaction Nunber of Units Unit Cost Total Cost Jan. 1 Beginning Inventory be $ 52 $ 3,120 Apr. 7 Purchase 54 7.50 Jul. 16 Purchase 210 11,970 Oct. 6 Purchase 6,96e 53e $29.610 140 57 58 12e For the entire year, the company sells 450 units of Inventory for $70 each 2 Using LIFO, calculate ending Inventory, cost of goods sold, sales revenue and gross proft. LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of #of units Goods unit Available for Sale Cost per Cost per of units unit Cost of Goods Sold Cost Ending of units per unit Inventory Beginning Inventory Purchases Apr 07 Jul 16 Oct 08 Total Sales revenue Gross profit Required Information The following information applies to the questions displayed below) During the year, TRC Corporation has the following inventory transactions Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning Inventory GO $ 52 $ 3,120 Apr. 7 Purchase 140 54 7.560 Jul.16 Purchase 57 11,970 Oct. 6 Purchase 58 6,960 530 $29,610 210 For the entire year, the company sells 450 units of Inventory for $70 each Cost per 3. Using weighted-average cost, calculate ending Inventory, cost of goods sold, sales revenue and gross profit. (Round "Average C 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 Ending Inventory Weighted Average Average Cost Cast Weighted Average Cost Average Cost of Goods Average of units # of units Cost of of units Available for Average Ending Cost per unit Sold in Ending Goods Sold Sale Unit Inventory Cost per unit Inventory Beginning Inventory 80 $ 3.120 Purchases Apr 07 140 7,6801 Jul 10 210 11.070 Oct 00 120 6.980 Total 530 $ 29,610 Sales revenue Gross profit Required information {The following Information applies to the questions displayed below) During the year. TRC Corporation has the following Inventory transactions, Date Transaction Jan. 1 Beginning Inventory Apr. Purchase Jul.16 Purchase Oct. 6 Purchase Number of Units Unit Cost Total Cost be $ 52 $ 3.12e 140 7.56 21e 57 11.970 12e 58 6.960 Sue $29,610 For the entire year, the company sells 450 units of inventory for $70 each. 4. Determine which method will result in higher profitability when Inventory costs are rising Multiple Choice FIFO LIFO Weighted average
