During the year, TRC Corporation has the following inventory transactions. Date Transaction January 1 Beginning inventory April 7 Purchase July 16 Purchase October 6 Purchase Number of Unit Total Units Cost Cost 51 $43 $2,193 131 45 5,895 201 48 9,648 111 49 5,439 494 $23,175 ces For the entire year, the company sells 431 units of inventory for $61 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. 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 Purchases: April 07 Ending Inventor Er Cost per unit Inve Cost of Goods Available for Sale Cost of Goods Sold Cost of Number Cost per Goods of units unit Available of units Number Cost per unit Cost of Goods Number of units Sold for Sale 51 $ 43 $ 2,193 $ 43 $ 0 131 $ 45 5,895 $ 45 0