6 GRADED Homework Assignment KQuestions 5- Exercise 6-4 Calculate inventory amounts when costs are risi IThe following information applies to the questions displayed below/ During the year, TRC Corporation has the tollowing Inventory transactions Number Unit Cost Date Transaction of Units 52 132 202 112 Total Cost Jan. 1 Beginning inventory Purchase Jul. 16Purchase Purchase $44 $ 2288 466,072 9,898 5.600 7 49 50 Oct. 6 498 $ 23,858 For the entire year, the company sells 432 units of inventory for $62 each. eferences Section Break Exercise 6-4 Calculate inventory costs are rising (Lo6-3) Exercise 6-4 Part 1 Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Average Cost of Average Cost of uniter | Available | # of unitsCostageI costof #Of units |Cost per! Goods Sold |#0f units | Cost nding per unit Inventory for Sale unit Beginning Inventory Purchases Apr. 7 Jul.16 Oct.6 Total Sales revenue Gross profit 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross pr LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of # of units Cost per 1 Available for Sale Average Cost of Average Ending Cost per unit ! # of units|cost per! Goods Sold |#ot units! unit unit Beginning Inventory Purchases Apr 07 Jul 16 Oct 06 Total Sales revenue Gross profit 3. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit (Round "Weighted Average Cos Cost of Goods Available for SaleCost of Goods Sold-Weighted Ending Inventory- Weighted Average Cost Average Cost Weighted Average Cost Average Cost ofin Ending Cost per Inventory cost per # of units | Average | Ending eCost otG00as1#0f units | Available for Sale | # or units Sold # of units | Cost per | Goods Sold|inventory unit unit Unit 52 2,288 Beginning Inventory Purchases Apr 07 Jul 16 Oct 06 132 202 112 498 6,072 9,898 5,600 S 23,858 Total Sales revenue Gross prott