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. Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase Unit Number of Units cost 43 $ 35 123 37 193 40 183 41 462 Total cost $ 1,505 4,551 7,720 4,223 $17,999 For the entire year, the company sells 412 units of Inventory for $53 each. Exercise 6-4A Part 1 Required: 1. Using FIFO, calculate ending Inventory, cost of goods sold, sales revenue, and gross profit. FIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Goods unit Available for Sale # of units Cost per Cost per # of units unit Cost of Goods Sold # of units Cost Ending per unit Inventory Beginning Inventory Purchases: Apr. 7 Jul. 16 Oct. 6 Total Sales revenue Gross profit