Saved Saved 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 Jan. 1 Mar. 4 Jun. 9 Nov.11 Transaction Beginning inventory Purchase Purchase Purchase Number of Units 22 27 32 32 113 Unit Cost $ 24 23 22 20 Total Cost $ 528 621 704 640 $2,493 For the entire year, the company sells 88 units of inventory for $32 each. Exercise 6-5A Part 2 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost per Cost of Goods Available Cost per Cost of Goods # of units # of units # of units Cost Ending per unit Inventory unit unit Exercise 6-5A Part 2 4 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. Cost of Goods Sold Ending Inventory LIFO Cost of Goods Available for Sale Cost of Cost per Goods # of units unit Available for Sale Cost per unit Cost of Goods Sold # of units # of units Cost Ending per unit Inventory Beginning Inventory Purchases: Mar 04 Jun 09 nces Nov 11 Total Sales revenue Gross profit S Next >