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Name: During the year, TRC Corporation has the following inventory transacti
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Description: During the year, TRC Corporation has the following inventory transactions.For the entire year, the company sells 450 units of inventory for $70 each.Required:1. Using FIFO, calculate (a) ending inventory, (b) cost of goods sold, (c) sales revenue, an

Business

Accounting

Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning inventory 60 $52 $ 3,120 Apr. 7 Jul. 16 Oct. 6 Purchase 140 54 7,560 Purchase 210 57 11,970 Purchase 120 58 6,960 $29,610 530

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter5: Operating Activities: Purchases And Cash Payments

Section: Chapter Questions

Problem 1.7C

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