During the year, TRC Corporation has the following inventory transactions.

For the entire year, the company sells 428 units of inventory for $59 each

Required:

1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit.

Date		Transaction	Number of Units			Unit Cost			Total Cost
Jan.	1	Beginning inventory		49		$	41			$	2,009
Apr.	7	Purchase		129			43				5,547
Jul.	16	Purchase		199			46				9,154
Oct.	6	Purchase		109			47				5,123
				486						$	21,833

Sales revenue
Gross profit