2 During the year, TRC Corporation has the following inventory transactions. Number of Unit Date Transaction Units Cost Total Cost January 1 10 Beginning inventory 56 $48 $2,688 April 7 Purchase 136 50 6,800. points July 16 Purchase 206 53 10,918 October Purchase 116 54 6,264 514 $26,670 eBook Hint Print For the entire year, the company sells 442 units of inventory for $66 each. Required: 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. 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 0 oints eBook 101 Complete this question by entering your answers in the tabs below. Req la and b Req 1c and d Req 2a and b Req 2c and d Req 3a and b Req 3c and d Using FIFO, calculate ending Inventory and cost of goods sold. Req 4 Ending Inventory Hint FIFO Cost of Goods Available for Sale Cost of Goods Sold Cost of Print Number Cost per of units unit Goods Available Number Cost per of units unit Cost of Goods Sold Number of units for Sale Beginning Inventory 56 $ 48 $ 2,688 $ 48 References Purchases: April 07 136 $ 50 July 16 206 $ October 06 116 $ 128 6,800 $ 50 53 10,918 $ 53 54 6,264 $ 54 Total 514 $ 26,670 Retto and b Req 1c and d > Cost Ending per unit Inventory Hint Print 3-a & b. Using weighted-average cost 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 Complete this question by entering your answers in the tabs below. References Req 1a and b Req 1c and d Req 2a and b Req 2c and d Req 3a and b Req 3c and d Using FIFO, calculate sales revenue and gross profit. Sales revenue Gross profit < Req 1a and b Req 2a and b > ts eBook Complete this question by entering your answers in the tabs below. Req la and b Req 1c and d Req 2a and b Req 2c and d Req 3a and b Req 3c and d Using LIFO, calculate ending inventory and cost of goods sold. Req 4 Hint LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Cost of Number Cost per Goods Number of units unit Available of units Cost per unit Number Cost Ending Goods of units per unit Inventory Print References Beginning Inventory Purchases: Sold for Sale 4 $ 48 $ 2,688 April 07 136 $ 50 6,800 July 16 206 $ 53 10,918 October 06 116 $ 54 6,264 Total 514 $ 26,670 Print Complete this question by entering your answers in the tabs below. erences 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 LIFO, calculate sales revenue and gross profit. Sales revenue Gross profit Req la 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 weighted-average cost, calculate ending inventory and cost of goods sold. (Round "Average Cost per unit" to 4 decimal places and all other answers to 2 decimal Ending Inventory-Weighted Average Cost Cost of Goods Available for Sale Cost of Goods Sold-Weighted Average Cost Weighted Average Cost Number of units Available for Average Cost Cost of Goods Number Average Cost per per Unit of units Unit Cost of Goods Sold Number of Average Cost per units Unit Ending Inventory Sale Beginning Inventory 56 $ 2,688 Purchases April 07 136 6,800 July 16 206 10,918 October 06 116 6,264 Total 514 $ 26,670 Hint Complete this question by entering your answers In the tabs below. Print 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 References Using weighted-average cost, calculate sales revenue and gross profit. (Round answers to 2 decim Sales revenue Gross profit 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 Determine which method will result in higher profitability when inventory costs are rising. Determine which method will result in higher profitability when inventory costs are rising. Req 4