Duringthe year, TRC Corporation has the following inventory transactions.

DateTransactionNumber of UnitsUnit CostTotal CostJan.1Beginning inventory60$52$3,120Apr.7Purchase140547,560Jul.16Purchase2105711,970Oct.6Purchase120586,960530$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.

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