During the year, TRC Corporation has the following inventory transactions:
Date: January 1, Transaction: Beginning inventory, Number of units: 40, Unit cost: 32, Total cost: 1,280
Date: April 7, Transaction: Purchase, Number of units: 120, Unit cost: 34, Total cost: 4,080
Date: July 16, Transaction: Purchase, Number of units: 190, Unit cost: 37, Total cost: 7,030
Date: October 6, Transaction: Purchase, Number of units: 100, Unit cost: 38, Total cost: 3,800
For the entire year, the company sells 400 units of inventory for 50 each. Required: 1-a
a) 4,000
b) 5,000
c) 6,000
d) 7,000