During 2015, TRC Corporation has the following inventory transactions

For the entire year, the company sells 501 units of inventory for $58 each

Required:
1. Using FIFO, calculate
(a) Ending inventory,
(b) Cost of goods sold,
(c) Sales revenue,
(d) Gross profit.
2. Using LIFO, calculate
(a) Ending inventory,
(b) Cost of goods sold,
(c) Sales revenue,
(d) Gross profit.
3. Using weighted-average cost, calculate
(a) Ending inventory,
(b) Cost of goods sold,
(c) Sales revenue,
(d) Gross profit.
4. Determine which method will result in higher profitability when inventory costs arerising.

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Number of nits S 55 147 230 120 552 Date Transaction Unit Cost S31 35 49 56 Total Cost S 1.705 5,145 11,270 6,720 S24,840 Beginning inventorv an Apr.7 Purchase Jul. 16 hase Oct.6 Purchase