Required information
[The following information applies to the questions displayed below.]
During the year, TRC Corporation has the following inventory transactions.
Date
Transaction
Number of Units
Unit Cost
Total Cost
Jan.
1
Beginning inventory
52
$
44
$
2,288
Apr.
7
Purchase
132
46
6,072
Jul.
16
Purchase
202
49
9,898
Oct.
6
Purchase
112
50
5,600
498
$
23,858
For the entire year, the company sells 432 units of inventory for $62 each.
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.)