Question

omework Chapter #6 Saved Help Save & Exit Submit Check my work During the year, TRC Corporation has the following inventory transactions. Number of Units Unit Coat $ 46 t 1 of 4 Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase 134 204 51 Total Cont $ 2,484 6,432 10,404 5,928 $25,248 114 52 506 For the entire year, the company sells 440 units of inventory for $64 each. -Book Hint print Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. rences FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units " # of units Cost per Cost of Cost per Goods unit Available for Sale $ 46 $ 2,484 1 unit ' Cost of Goods Sold # of units Cost Ending per unit Inventory 54 $ 46 $ 0 Beginning Inventory Purchases: Apr. 7 Jul. 16 Oct.6 Total 134 $ 204 $ 48 51 $ $ 48 51 6,432 10,404 0 19,3201 392 $

Answer 1

FIFO Cost of goods Available for sale Cost of Goods sold Ending Inventory No of units Cost per unit No of units Cost per unit Cost of goods No of units Cost per unit Ending Inventory cost of goods Available for sale 2484 sold 46.00 54 46.00 2484 46.00 Beginning inventory Purchases: Apr-07 Jul-16 Oct-06 Total 134 204 114 506 48.00 51.00 52.00 134 204 6432 10404 5928 25248 48.00 51.00 52.00 6432 10404 2496 21816 48.00 51.00 52.00 48 3432 3432 440