This is an individual assignment.
During the year, TRC Corporation has the following inventory transactions.
For the entire year, the company sells units of inventory for $ each.
Required:
Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit.
Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit.
Using weightedaverage cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. Round
"WeightedAverage Cost per unit" to decimal places
Determine which method will result in higher profitability when inventory costs are rising.
