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How to calculate weighted average cost of goods sold

04/10/2021 Client: muhammad11 Deadline: 2 Day

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 # of units Cost per Cost of Goods Available for Sale Cost per unit Cost of Goods Sold # of units Cost Ending per unit Inventory unit Beginning Inventory Purchases: Apr 07 Jul 16 Oct 06 Total 01 0 | Sales revenue Gross profit
3. Using weighted average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Average Cost per unit" to 4 decimal places and all other answers to the nearest whole number.) Cost of Goods Available for Sale Cost of Goods Sold - Weighted Average Cost Ending Inventory - Weighted Average Cost Weighted Average Cost # of units Cost per unit Cost of Goods # of units Available for " Sold Sale Cost per Unit Cost of Goods Sold # of units in Ending Inventory Cost per unit Ending Inventory 1,280 Beginning Inventory Purchases: Apr 07 Jul 16 Oct 06 Total 4,080 7,030 3,800 16,190 100 450 $ Sales revenue Gross profit
Required information [The following information applies to the questions displayed below.) During the year, TRC Corporation has the following inventory transactions. Number of Units Unit Cost $ 32 40 Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase 120 190 100 450 Total Cost $ 1,280 4,080 7,030 3,800 $16,190 For the entire year, the company sells 400 units of inventory for $50 each.
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 # of units Cost per unit # of units Cost per Cost of # of units & Cost of Goods Available for Sale $ 0 unit Goods Sold Cost Ending per unit Inventory $ $ Beginning Inventory Purchases: Apr. 7 Jul. 16 0 $ 0 0 Oct.6 Total 0 $ 0 Sales revenue Gross profit

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