! Required information Exercise 6-5A Calculate inventory amounts when costs are declining (L06-3) The following information applies to the questions displayed below) During the year. Trombley Incorporated has the following inventory transactions Date Transaction Jan. 1 Beginning inventory Mar. 4 Purchase Jun. 9 Purchase Nov.11 Purchase Number of Units 27 32 37 37 133 Unit Cost $ 29 28 27 25 Total Cost $ 783 896 999 925 $3,603 For the entire year, the company sells 100 units of inventory for $37 each Exercise 6-5A Part 1 Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost per #of units Cost per #of units unit Cost of Goods Available for Sale $ 0 Cost of Goods Sold of units Cost Ending per unit Inventory unit $ 0 $ $ 0 0 Beginning Inventory Purchases Mar 04 Jun 09 Nov 11 Total $ OOO OOOO 0 0 0 Oo $ 0 $ Sales revenue Gross profit Exercise 6-5A Part 2 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Cost per Goods # of units unit Available for Sale Cost per # of units unit Cost of Goods Sold # of units Cost Ending per unit Inventory Beginning Inventory Purchases: Mar 04 Jun 09 Nov 11 Total Sales revenue Gross profit Exercise 6-5A Part 3 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 Sold - Wolghted Ending Inventory - Weighted Average Cost of Goods Available for Sale Average Cost Cost Weighted Average Average Cost of Goods Average # of units Cost Average of units Cost of Ending Cost per # of units Cost per Available for In Ending Cost per Goods Sold Sold Inventory unit Sale Unit unit Inventory 27 $ 783 Beginning Inventory Purchases Mar 4 Jun 9 Nov. 11 Total 32 37 37 133 896 999 925 3,603 $ Sales revenue Gross profit