Question

Required information Exercise 6-5A Calculate inventory amounts when costs are declining (LO6-3) {The following information applies to the questions displayed below.) During the year. Trombley Incorporated has the following inventory transactions, Number of Units 19 Unit Cost $ 21 Date Transaction Jan. 1 Beginning inventory Mar. 4 Purchase Jun. 9 Purchase Nov. 11 Purchase 20 Total Cost $ 399 480 552 493 $1,923 For the entire year, the company sells 80 units of inventory for $29 each

Answer 1

- Page 0 Date: Date: 11 Page No.: - // Page No... 2 LIFO Cost of units 19 of goods cost per unit & 21 available for sale ost of goods available for sale $399 ! Beginning Inventory Purchases! Morou Jun og 24 28 ५४० $551 $493 & ig &17 29 Total 101 $ 1923

Date: _/ / __Page no: Ending #of units Inventory cost per unit Ending Inventory Beginning Inventory - $21 $399 $20 20 Purchases Моя оч Tum og Nov 1 $40 Total 21 $ 439 of - # cost unit goods sold cost per unit of cost of goods told Beginning Inventory 22 Purchares Mar 04 Jun og Nov 1 29 Фичо $551 $ 493 29 Total $1484 80 Sales cost of Revenue = 808 $29= $2320 & $2320 goods sold = $1484 no ht: 2320 - 1484 = $836