i-24 ng36-\', e Hornel Chegg.com .) Cons learn.wsu. content id 570929871/cours-

Question

i-24 ng36-', e Hornel Chegg.com .) Cons learn.wsu. content id 570929871/cours- Les WileyPLUS ction Manag M Sign In l McGraw-Hiti workbook # 7 Calculate Cost of inventory Work Assignment #7 Last Name: First Name: ld: Calculate inventory amounts when costs are rising (LO6-3) During 2018, TRC Corporation has the following inventory transactions. Number Unit Date Transaction of Units CostTotal Cost 54 134 204 114 S46 2484 6,432 50 10.404 Jan. Beginning nvento Apr. 7Purchase Jul. 16 Oct. 6 48 51 Purchase 5,928 Purchase 506 For the entire year, the company sells 440 units of inventory for $64 each Using the information above: Calculate: FiFo Lifo Average Cost Ending Inventoy Cost of Goods Sold Sales Revenue Gross Profit 3/4/2018

Explanation / Answer

Calculate following :

FIFO LIFO Average cost Ending inventory 66*52=3432 54*46+12*48=3060 (25248/506)*66=3293 Cost of goods sold 25248-3432=21816 25248-3060=22188 (25248/506)*440=21955 Sales revenue 440*64=28160 28160 28160 Gross profit 6344 5972 6205

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