Question

Weighted-Average Cost:

Required information Exercise 6-4A Calculate inventory amounts when costs are rising (LO6-3) [The following information applies to the questions displayed below.] During the year, TRC Corporation has the following inventory transactions. 44 Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase Number of Units Unit Cost $ 36 124 194 104 38 41 Total Cost $ 1,584 4,712 7,954 4,368 $18,618 466 For the entire year, the company sells 413 units of inventory for $54 each. Exercise 6-4A Part 3 3. Using weighted average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Average Cost per unit" to 4 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 Cost per unit Cost of Goods Available for # of units | Sold Sale Cost per Unit Cost of Goods Sold # of units in Ending Inventory Cost per unit Ending Inventory 1,584 Beginning Inventory Purchases Apr 07 Jul 16 Oct 06 Total 4,712 7,954 4,368 18,618 466

Answer 1

Schedule

Weighted average	Cost of goods available for sale			Cost of goods sold			Ending inventory
	# of unit	Cost per unit	Total cost	# of unit	Cost per unit	Total cost	# of unit	Cost per unit	Total cost
Beginning inventory	44	36	1584
Purchase
Apr 07	124	38	4712
Jul 16	194	41	7954
Oct 06	104	42	4368
Total	466	39.9528	18618	413	39.9528	16501	53	39.9528	2117

Sales revenue = 22302

Gross profit = 22302-16501 = 5801