Exercise 6-4 Calculate inventory amounts when costs are rising (L06-3) [The following information applies to the questions displayed below.] During the year, TRC Corporation has the following inventory transactions. Date Jan. 1 Apr. 7 Jul. 16 Oct. 6 Transaction Beginning inventory Purchase Purchase Purchase Number of Units 50 130 200 110 Unit Cost $ 42 44 47 48 Total Cost $ 2,100 5,720 9,400 5,280 490 $ 22,500 For the entire year, the company sells 440 units of inventory for $60 each. Exercise 6-4 Part 2 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Average # of units Cost per unit Cost of Goods Available for Sale Average # of units Cost per unit Cost of Goods Sold # of units Average Ending Cost Inventory per unit Beginning Inventory Purchases: Apr 07 Jul 16 Oct 06 Total Sales revenue Gross profit