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During the year, TRC Corporation has the following inventory transactions. Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning inventory 49 $

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

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

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.

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