Accounting Question
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 | 43 | $ | 35 | $ | 1,505 | ||||||
| Apr. | 7 | Purchase | 123 | 37 | 4,551 | ||||||||
| Jul. | 16 | Purchase | 193 | 40 | 7,720 | ||||||||
| Oct. | 6 | Purchase | 103 | 41 | 4,223 | ||||||||
| 462 | $ | 17,999 | |||||||||||
For the entire year, the company sells 412 units of inventory for $53 each.
2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit.
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please help!! due by lunch central time zone 14 Required information The following information applies to...
please help!! due by lunch central time zone
14 Required information The following information applies to the questions displayed below.) During the year, TRC Corporation has the following inventory transactions 3:25 Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul. 16 Purchase Oct. 6 Purchase Number of Units Unit Cost 43 $ 35 123 37 193 40 103 41 462 Total Cost $ 1,505 4,551 7,720 4,223 $17,999 For the entire year, the company sells 412 units of inventory...
Required information The following information applies to the questions displayed below During the year, TRC Corporation...
Required information The following information applies to the questions displayed below During the year, TRC Corporation has the following inventory transactions Nunber of Unit Transaction Units Zotal Cost Date Cost Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 2,585 6,615 10,660 6,095 55 47 49 135 Purchase 205 52 Oct. 6 Purchase 53 115 510 $25,955 For the entire year, the company sells 441 units of inventory for $65 each 2. Using LIFO, calculate ending inventory, cost of goods sold,...
During the year, TRC Corporation has the following inventory transactions. For the entire year, the company...
During the year, TRC Corporation has the following inventory transactions. For the entire year, the company sells 428 units of inventory for $59 each Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning inventory 49 $ 41 $ 2,009 Apr. 7 Purchase 129 43 5,547 Jul. 16 Purchase 199 46 9,154 Oct. 6 Purchase 109 47 5,123 486 $ 21,833 Sales...
Required Information (The following information applies to the questions displayed below.) During the year, TRC Corporation...
Required Information (The following information applies to the questions displayed below.) During the year, TRC Corporation has the following Inventory transactions Part 1 of 4 Number of Unit Cont s 33 Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase Total Cost 1.353 4,235 7.258 3.939 $16,785 points For the entire year, the company sells 410 units of Inventory for $51 each. Required: 1. Using FIFO, calculate ending Inventory, cost of goods sold, sales revenue,...
Required information (The following information applies to the questions displayed below] During the year, TRC Corporation...
Required information (The following information applies to the questions displayed below] During the year, TRC Corporation has the following inventory transactions. Number of Units . 56 Date Transaction Beginning Jan. 1 ". inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase NS Unit Cost Total Cost $48 $ 2,688 50 6,800 5310,918 54 6,264 $26,670 6, 90 IOS For the entire year, the company sells 442 units of inventory for $66 each. 2. Using LIFO, calculate ending inventory, cost of...
Required information [The following information applies to the questions displayed below.] During the year, TRC Corporation...
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. 7 Purchase Jul.16 Purchase Oct. 6 Purchase Number of Units 59 139 209 119 526 Unit Cost $ 51 53 56 57 Total Cost $ 3, 009 7, 367 11,704 6, 783 $28,863 For the entire year, the company sells 445 units of inventory for $69 each. 4. Determine which method will...
LIFO: Required information Exercise 6-4A Calculate inventory amounts when costs are rising (LO6-3) [The following information...
LIFO:
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. Date Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase Number of Units Unit Cost 44 124 194 104 466 Total Cost $ 1,584 4,712 7,954 4,368 $18,618 For the entire year, the company sells 413 units of inventory for $54 each. 2. Using LIFO,...
Required information Exercise 6-4A Calculate Inventory amounts when costs are rising (L06-3) The following information applies...
Required information Exercise 6-4A Calculate Inventory amounts when costs are rising (L06-3) The following information applies to the questions displayed below. During the year, TRC Corporation has the following inventory transactions. Number of Units Unit Cost $43 Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase 131 201 111 Total Cost 2,193 5.995 9,648 5,439 $23,175 For the entire year, the company sells 431 units of inventory for $61 each. Exercise 6-4A Part 1 Required:...
Required information Exercise 6-4A Calculate inventory amounts when costs are rising (LO6-3) [The following information applies...
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. Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning inventory 41 $ 33 $ 1,353 Apr. 7 Purchase 121 35 4,235 Jul. 16 Purchase 191 38 7,258 Oct. 6 Purchase 101 39 3,939 454 $ 16,785 For the entire year, the company sells 410 units of...
During the year, TRC Corporation has the following inventory transactions. Date Transaction Number of Units Unit...
During the year, TRC Corporation has the following inventory transactions. Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning inventory 59 $ 51 $ 3,009 Apr. 7 Purchase 139 53 7,367 Jul. 16 Purchase 209 56 11,704 Oct. 6 Purchase 119 57 6,783 526 $ 28,863 For the entire year, the company sells 445 units of inventory for $69 each. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. Using LIFO, calculate...
please help!! due by lunch central time zone
14 Required information The following information applies to the questions displayed below.) During the year, TRC Corporation has the following inventory transactions 3:25 Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul. 16 Purchase Oct. 6 Purchase Number of Units Unit Cost 43 $ 35 123 37 193 40 103 41 462 Total Cost $ 1,505 4,551 7,720 4,223 $17,999 For the entire year, the company sells 412 units of inventory...
Required information The following information applies to the questions displayed below During the year, TRC Corporation has the following inventory transactions Nunber of Unit Transaction Units Zotal Cost Date Cost Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 2,585 6,615 10,660 6,095 55 47 49 135 Purchase 205 52 Oct. 6 Purchase 53 115 510 $25,955 For the entire year, the company sells 441 units of inventory for $65 each 2. Using LIFO, calculate ending inventory, cost of goods sold,...
Required Information (The following information applies to the questions displayed below.) During the year, TRC Corporation has the following Inventory transactions Part 1 of 4 Number of Unit Cont s 33 Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase Total Cost 1.353 4,235 7.258 3.939 $16,785 points For the entire year, the company sells 410 units of Inventory for $51 each. Required: 1. Using FIFO, calculate ending Inventory, cost of goods sold, sales revenue,...
Required information (The following information applies to the questions displayed below] During the year, TRC Corporation has the following inventory transactions. Number of Units . 56 Date Transaction Beginning Jan. 1 ". inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase NS Unit Cost Total Cost $48 $ 2,688 50 6,800 5310,918 54 6,264 $26,670 6, 90 IOS For the entire year, the company sells 442 units of inventory for $66 each. 2. Using LIFO, calculate ending inventory, cost of...
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. 7 Purchase Jul.16 Purchase Oct. 6 Purchase Number of Units 59 139 209 119 526 Unit Cost $ 51 53 56 57 Total Cost $ 3, 009 7, 367 11,704 6, 783 $28,863 For the entire year, the company sells 445 units of inventory for $69 each. 4. Determine which method will...
LIFO:
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. Date Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase Number of Units Unit Cost 44 124 194 104 466 Total Cost $ 1,584 4,712 7,954 4,368 $18,618 For the entire year, the company sells 413 units of inventory for $54 each. 2. Using LIFO,...
Required information Exercise 6-4A Calculate Inventory amounts when costs are rising (L06-3) The following information applies to the questions displayed below. During the year, TRC Corporation has the following inventory transactions. Number of Units Unit Cost $43 Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase 131 201 111 Total Cost 2,193 5.995 9,648 5,439 $23,175 For the entire year, the company sells 431 units of inventory for $61 each. Exercise 6-4A Part 1 Required:...
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