2 0.12 points Number of Unit Total Date January 1 April 7 July 16 Transaction Units Cost Cost Beginning inventory 55 $47 $2,585 Purchase 135 49 6,615 Purchase 205 52 10,660 October 6 Purchase 115 53 6,095 510 $25,955 For the entire year, the company sells 441 units of inventory for $65 each. Required: eBook 1-a & b. Using FIFO, calculate ending inventory and cost of goods sold. 1-c & d. Using FIFO, calculate sales revenue and gross profit. Hint 2-a & b. Using LIFO, calculate ending inventory and cost of goods sold. 2-c & d. Using LIFO, calculate sales revenue and gross profit. Print References 3-a & b. Using weighted-average cost, calculate ending inventory and cost of goods sold. 3-c & d. Using weighted-average cost, calculate sales revenue and gross profit. 4. Determine which method will result in higher profitability when inventory costs are rising. Complete this question by entering your answers in the tabs below. Req 1a and b Req 1c and d Req 2a and b Req 2c and d Req 3a and b Req 3c and d Req 4 Using FIFO, calculate ending inventory and cost of goods sold. FIFO Beginning Inventory Cost of Goods Available for Sale Cost of Goods Sold Number of units Cost per unit Cost of Goods Available of units Number Cost per unit Cost of Goods Sold for Sale 55 $ 47 $ 2,585 $ 47 Ending Inventory Number Cost Ending of units per unit Inventory Purchases: April 07 135 $ 49 6,615 $ 49 July 16 205 $ 52 10,660 $ 52 October 06 115 $ 53 6,095 $ 53 Total 510 $ 25,955 < Req 1a and b Req 1c and d > During the year, TRC Corporation has the following inventory transactions. Date Transaction 0.12 January 1 Beginning inventory points April 7 Purchase July 16 Purchase October 6 Purchase eBook Number of Unit Units Total Cost 55 $47 Cost $2,585 135 49 6,615 205 52 10,660 115 53 510 6,095 $25,955 For the entire year, the company sells 441 units of inventory for $65 each. Required: Hint 1-a & b. Using FIFO, calculate ending inventory and cost of goods sold. 1-c & d. Using FIFO, calculate sales revenue and gross profit. 2-a & b. Using LIFO, calculate ending inventory and cost of goods sold. 2-c & d. Using LIFO, calculate sales revenue and gross profit. Print References 3-a & b. Using weighted-average cost, calculate ending inventory and cost of goods sold. 3-c & d. Using weighted-average cost, calculate sales revenue and gross profit. 4. Determine which method will result in higher profitability when inventory costs are rising. Complete this question by entering your answers in the tabs below. Req 1a and b Req 1c and d Req 2a and b Req 2c and d Req 3a and b Req 3c and d Req 4 Using FIFO, calculate sales revenue and gross profit. Sales revenue Gross profit < Req 1a and b Req 2a and b >