Exercise 6-4A 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. Number of Unit Date Transaction Units Cost Total Cost Jan. 1 Beginning inventory 60 $52 $ 3,120 Apr. 7 Purchase 7,560 Jul.16 Purchase 57 11,970 Oct. 6 Purchase 58 6,960 530 $29,610 54 140 210 120 For the entire year, the company sells 450 units of inventory for $70 each. Exercise 6-4A Part 2 2. Using LIFO, calculate ending Inventory.cost of goods sold, sales revenue, and gross profit LIFO Cost of Goods Avallable for Sale Cost of Goods Sold Ending Inventory of units Cost per unit Cost of Goods Available for Sale of units Cost per unit Cost of Goods Sold #of units Cost Ending per unit Inventory $ 0 Beginning Inventory Purchases: Apr 07 Jul 16 Oct 06 Total 0 0 0 0 $ 0 Sales revenue Gross profit Required information Exercise 6-4A 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. Number of Unit Date Transaction Units Cost Jan. 1 Beginning inventory Total Cost 60 $52 Apr. 7 Purchase $ 3,120 140 54 Jul. 16 Purchase 7,560 57 11,970 Oct. 6 Purchase 120 58 6,960 530 $29,610 210 For the entire year, the company sells 450 units of inventory for $70 each Exercise 6-4A Part 3 3. Using weighted-average cost calculate ending inventory, cost of goods sold, sales revenue and gross profit. (Round "Average Cost per unit" to 2 decimal places and all other answers to the nearest whole number) Cost of Goods Available for Sale Cost of Goods Sold Weighted Ending Inventory - Weighted Average Average Cost Cost Weighted Average Cost Average Cost of Goods Average # of units of units Cost of of units Cost per Average Available for Cost per Sold Ending in Ending Cost per Sale Goods Sold Unit Inventory unit Inventory Beginning inventory 60 $ 3,120 Purchases Apr 07 140 7.560 Jul 16 210 11,070 Oct 06 120 6,960 Total 530 $ 29,610 unit Sales revenue Gross profit