Exercise 6-4B Calculate inventory amounts when costs are rising (L06-3) (The following information applies to the questions displayed below.) During the year, a company has the following inventory transactions. Number of Unit Date Transaction Units Cost Total Cost Jan. 1 Beginning inventory 48 $ 40 $ 1,920 128 42 Apr. 7 Purchase 5,376 198 45 Jul. 16 Purchase 8,918 108 46 4,968 Oct. 6 Purchase 482 $21, 174 For the entire year, the company sells 427 units of inventory for $58 each. FIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of #of Cost Goods units per unit Available for Sale # of units Cost per unit Cost of Goods Sold # of units Cost per unit Ending Inventory 48 $ 40 $ 1.920 $ 40 $ 0 483 $ 40 $ 1,920 Beginning Inventory Purchases: Apr. 7 Jul. 16 Oct 6 Total 45 128 $ 42 198 $ 108 $ 46 482 5,376 8,910 4,068 $ 21,174 128 $ 42 198 $ 45 108 $ 46 434 5,376 8.910 4,968 $ 19,254 48 $ 1,920 Answer is complete but not entirely correct. $ 26,040 Sales revenue Gross profit $ 6,786