During the year, TRC Corporation has the following inventory transactions. Date January 1 Transaction Beginning inventory April 7 Purchase July 16 Purchase October 6 Purchase Number of Unit Total Units Cost Cost 40 $32 $1,280 120 34 4,080 190 37 7,030 100 38 3,800 450 $16,190 es For the entire year, the company sells 400 units of inventory for $50 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 Using FIFO, calculate ending inventory and cost of goods sold. Req 4 Cost of Goods Available for Sale Cost of Goods Sold Cost of FIFO Number of units Cost per Goods unit Available of units Number Cost per unit Cost of Goods Sold Number of units for Sale Beginning Inventory 40 40 $ 32 $ 1,280 $ 32 Purchases: April 07 120 $ 34 4,080 $ 34 July 16 190 $ 37 7,030 October 06 100 $ 38 3,800 $ 559 $ 37 38 Total 450 $ 16,190 Ending Inventory Ending Cost per unit Inventory