Exercise 6-5 Calculate inventory amounts when costs are declining (LO6-3)

2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit.

THANKS

During the year, Trombley Incorporated has the following inventory transactions. Number Unit Cost Total Cost Transaction of Units Date 20 22 440 Jan. 1 Beginning inventory 525 21 Mar. 4 Purchase 25 Jun. 9 Purchase 20 30 600 540 30 18 Nov. 11 Purchase 2105 105 For the entire year, the company sells 81 units of inventory for $30 each