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Required information (The following information applies to the questions displayed below.] During the year, Trombley...

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Accounting

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Required information (The following information applies to the questions displayed below.] During the year, Trombley Incorporated has the following inventory transactions. Date Transaction Jan. 1 Beginning inventory Mar. 4 Purchase Jun. 9 Purchase Nov. 11 Purchase Number of Units 23 28 33 33 Unit Cost $ 25 24 23 21 Total Cost $ 575 672 759 693 $2,699 117 For the entire year, the company sells 89 units of inventory for $33 each. Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit Answer is complete and correct. FIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost Cost of # of Goods units per Available unit for Sale Cost # of units Cost per unit Cost of Goods Sold # of units per Ending Inventory unit 23 $ 25$ 575 23$ 25 $ 575 Beginning Inventory Purchases Mar 04 28 $ 24 672 28 $ 24 672 Jun 09 33 $ 23 759 33 $ 23 759 Nov 11 33 $ 21 693 105 28 $ 21 588 5 $ 21 89 Total 117 $ 2.699 $ 2,111 28 588 Answer is complete but not entirely correct. 2,937 Sales revenue Gross profit $ $ 588 X

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