How to calculate weighted average cost of goods sold

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