. Date Transaction Jan. 1 Beginning inventory During the year, TRC Corporation has the following inventory transactions....

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Date Transaction Jan. 1 Beginning inventory During the year, TRC Corporation has the following inventory transactions. Total Cost $ 3,120 Number of Units Unit Cost 60 $ 52 Apr. 7 Purchase Oct. 6 Purchase 140 54 7,560 Jul.16 Purchase 210 57 11,970 120 58 6,960 530 $29,610 For the entire year, the company sells 450 units of inventory for $70 each. 3. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Average Cost per unit" to 2 decimal places and all other answers to the nearest whole number.) Cost of Goods Available for Sale Cost of Goods Sold - Weighted Average Cost Ending Inventory - Weighted Average Cost Weighted Average Cost # of units Average Cost per unit Cost of Goods Available for # of units Sold Sale Average Cost per Unit # of units Cost of Goods Sold Average Ending in Ending Cost per unit Inventory Inventory 60 $ 3,120 Beginning Inventory Purchases: Apr 07 140 7,560 Jul 16 210 11,970 Oct 06 120 6.960 Total 530 $ 55.87 S 29,610 Sales revenue Gross profit Date Transaction Jan. 1 Beginning inventory During the year, TRC Corporation has the following inventory transactions. Total Cost $ 3,120 Number of Units Unit Cost 60 $ 52 Apr. 7 Purchase Oct. 6 Purchase 140 54 7,560 Jul.16 Purchase 210 57 11,970 120 58 6,960 530 $29,610 For the entire year, the company sells 450 units of inventory for $70 each. 3. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Average Cost per unit" to 2 decimal places and all other answers to the nearest whole number.) Cost of Goods Available for Sale Cost of Goods Sold - Weighted Average Cost Ending Inventory - Weighted Average Cost Weighted Average Cost # of units Average Cost per unit Cost of Goods Available for # of units Sold Sale Average Cost per Unit # of units Cost of Goods Sold Average Ending in Ending Cost per unit Inventory Inventory 60 $ 3,120 Beginning Inventory Purchases: Apr 07 140 7,560 Jul 16 210 11,970 Oct 06 120 6.960 Total 530 $ 55.87 S 29,610 Sales revenue Gross profit

Answer rating: 100% (QA)

To calculate the ending inventory cost of goods sold sales revenue and gross profit using the weight... View the full answer