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

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[The following information applies to the questions displayed below.]

During the year, Trombley Incorporated has the following inventory transactions.

Date		Transaction	Number of Units			Unit Cost			Total Cost
Jan.	1	Beginning inventory		25		$	27			$	675
Mar.	4	Purchase		30			26				780
Jun.	9	Purchase		35			25				875
Nov.	11	Purchase		35			23				805
				125						$	3,135

For the entire year, the company sells 98 units of inventory for $35 each.

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.)

! 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. Number of Units Date Transaction Jan. 1 Beginning inventory Mar. 4 Purchase Jun. 9 Purchase Nov. 11 Purchase Unit Cost $ 27 26 25 23 30 21| Total Cost $ 675 780 875 805 $3,135 For the entire year, the company sells 98 units of inventory for $35 each. Exercise 6-5A Part 3 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.) Ending Inventory - Weighted Average Cost Weighted Average Cost Cost of Goods Available for Sale Cost of Goods Sold - Weighted Average Cost Average Cost of Goods Average # of units Cost Available for # of units Cost per Cost of Sold Goods Sold per unit Sale Unit # of units in Ending Inventory Average Cost per unit Ending Inventory 25 $ 675 Beginning Inventory Purchases: Mar.4 30 780 Jun.9 875 Nov. 11 Total 35 35 125 805 3,135 $ Sales revenue Gross profit