During 2018 TRC Corporation has the following inventory tran

During 2018, TRC Corporation has the following inventory transactions. Number Unit Cost Total Cost $51 $3,009 7,367 11,704 6,783 Transaction Date Jan. 1 Apr 7 Purchase Jul. 16 Oct. 6 of Units 59 139 209 119 Beginning inventory Purchase Purchase 53 56 57 526 $ 28,863 For the entire year, the company sells 445 units of inventory for $69 each.

Solution

Schedule :

Sales revenue = 445*69 = $30705

Gross profit = 30705-24688 = 6017

	Cost of goods available for sale	Cost of goods sold	Endng inventory
	# of units	$/unit	$	# of units	$/unit	$	# of units	$/Unit	$
Beginning inventory	59	51	3009				59	51	3009
Purchases
Apr 07	139	53	7367	117	53	6201	22	53	1166
Jul 06	209	56	11704	206	56	11704
Oct 06	119	57	6783	119	57	6783
Total	526		28863	445		24688	81		4175