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 inventory for $51 each.
Required:
1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit.
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 (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 (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,...
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,...
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...
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. Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase 127 Number of Units Unit Cost Total Cost 47 $ 39 $ 1,833 41 5,207 197 44 8,668 107 4,815 478 $20,523 45 For the entire year, the company sells 426 units of inventory for...
5 Part of 4 2 points 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 Number of Unit Date Transaction Unita Coat Total Cost Jan. 1 Beginning inventory 47 $ 39 $ 1,833 Apr. 7 Purehase 127 41 5.207 Jul. 16 Purchase 197 44 8.668 Oet. 6 Purchase 102 4,015 478 $20,523 elok Print For the entire year,...
pt1 pt2 pt.3 Exercise 6-4A Part 1 Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per Cost of Goods Available for Sale Cost per unit # of units Cost of Goods Sold unit # of units Cost Ending per unit Inventory Beginning Inventory Purchases: Apr. 7 Jul. 16 Oct.6 Total ES Sales revenue Gross profit...
FIFO: Required information Exercise 6-5A Calculate inventory amounts when costs are declining (LO6-3) [The following information applies to the questions displayed below.] During the year, Trombley Incorporated has the following inventory transactions. Number of Units Unit Cost $ 31 29 Date Transaction Jan. 1 Beginning inventory Mar. 4 Purchase Jun. 9 Purchase Nov. 11 Purchase 39 Total Cost $ 899 1,020 1,131 1,053 $4,103 For the entire year, the company sells 110 units of inventory for $39 each. Exercise 6-5A...
Exercise 6-5A Calculate inventory amounts when costs are declining (LO6-3) [The following information applies to the questions displayed below.) During the year, Trombley Incorporated has the following inventory transactions. Vurber Unit COST Date Transaction Jan. 1 Beginning inventory Mar. 4 Purchase Jun. 9 Purchase Nov.11 Purchase Total Cost $ 399 480 551 493 $1,923 For the entire year, the company sells 80 units of inventory for $29 eoch Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales...
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...