Question: Please answer problems 2 and 3 During the year, TRC Corporation has the following inventory transactions: During the year, the company sold the following units

Please answer problems 2 and 3

During the year, TRC Corporation has the following inventory transactions: During the year, the company sold the following units (all sold for $70 each): Required: Calculate the values of: (A) Ending Inventory, (B) Cost of Goods Sold, (C) Sales Revenue and (D) Gross Profit under the periodic system using the following methods: 1. FIFO 2. LIFO 3. Weighted Average Problem 3 (using Problem 2) Using the information in the problem above, answer the same questions using the perpetual system

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