During the year, TRC Corporation has the following inventory transactions. Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul. 16 Purchase Oct. 6 Purchase Number of Units Unit Cost 60 $ 52 140 54 210 57 120 58 530 Total Cost $ 3,120 7,560 11,970 6,960 $29,610 For the entire year, the company sells 450 units of inventory for $70 each. Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. FIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Goods unit Available for Sale 60 $ 52 $ 3,120 # of units Cost per Cost per # of units Cost of Goods Sold # of units unit Cost Ending per unit Inventory 60 $ 52 $ 3,120 0 140 $ 7,560 140 $ 54 7,560 0 Beginning Inventory Purchases: Apr. 7 Jul. 16 Oct. 6 Total 54 57 210 $ 0 210 $ 120 $ 57 58 120 11,970 6,960 29,610 $ 58 11,970 6,960 $ 29,610 530 $ $ 31,500 Sales revenue Gross profit