During the year, Trombley Incorporated has the following inventory transactions Unit Cost $13 12 Number of Units Total Cost $143 192 231 189 Transaction Date Jan. 1 Mar. 4 Jun. 9 Nov. 11 Beginning inventory Purchase Purchase Purchase 16 21 21 9 755 69 For the entire year, the company sells 51 units of inventory for $21 each Required 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Goods Available Average Ending Average Average Cost of Goods Sold | # of units Cost per # of units Cost per | # of units Cost per unit Inventory unit unit for Sale 1113 $ 143 1113 143 Beginning Inventory Purchases Mar 04 Jun 09 Nov 11 16 $12 21$11 219 69 192 231 189 755 16$ 12 21$11 21$9 192 231 189 Total Sales revenue Gross profit 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. Answer is not complete. LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Average Average Cost per unit Cost of Goods Sold Average Cost per unit Ending Inventory #of units #of units #of units Goods Cost per Available for Sale 113$ 143 unit Beginning 13 143 Inventory Purchases Mar 04 Jun 09 Nov 11 16$ 192 21$231 21189 $755 16X$12 2111 192 231 27 162 $162 $ 59318 Total 69 51 Answer is complete but not entirely correct. Sales revenue Gross profit $ 1,071 $ 513