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! Required Information [The following information applies to the questions displayed below.) During the year,...

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Accounting

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! 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 Unit Cost 53 $45 133 47 203 50 113 51 502 Total Cost $ 2,385 6,251 10, 150 5,763 $24,549 For the entire year, the company sells 433 units of inventory for $63 each. 2. Using LIFO. calculate ending inventory, cost of goods sold, sales revenue, and gross profit. LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost per unit Cost # of units Cost of Goods Available for Sale # of units Cost of Goods Sold Cost Ending # of units per unit Inventory per unit Beginning Inventory Purchases: Apr 07 Jul 16 Oct 06 Total

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